News - Ardshinbank was recognized as the Bank of the Year in Armenia for the fourth time by The Banker magazine

Ardshinbank has been distinguished as the Bank of the Year in the country for 2023 by The Banker, a renowned international financial publication under the Financial Times Group. In a comprehensive evaluation, financial organizations were rigorously assessed across various performance criteria, including growth, profitability, operational efficiency, asset quality, liquidity, and reliability, among others. Joy Macknight, editor of The Banker, extends her heartfelt congratulations to Ardshinbank for clinching the esteemed "Bank of the Year" award in Armenia: “Congratulations to Ardshinbank for winning the Bank of the Year accolade in Armenia. Ardshinbank’s commitment to driving digitisation and efficiencies throughout its organisation made it stand out among its peers. For example, the bank introduced an artificial intelligence-based scoring system for credit risk assessment to improve the efficiency of its lending process.” Artak Ananyan, Chairman of the Board of Ardshinbank, expressed his gratitude and reflected on the accomplishment: “For the fourth time, The Banker magazine acknowledges Ardshinbank's leadership in the Armenian financial market. I attribute our consistent success to a robust business model, emphasizing effective capital and risk management, meticulous cost control, financial performance, and a proactive approach to digitalization. Our responsiveness to ever-changing customer needs reflects our commitment. We strive to provide innovative financial solutions and build trusted relationships with our valued customers." Notably, this esteemed award marks Ardshinbank’s sixth recognition in the current year. In 2023, the bank received accolades such as "Best Bank of the Year", "Best Corporate Bank" and "Best ESG Bank (for Social, Environmental Responsibility and Corporate Governance)" from the prestigious Euromoney magazine. Furthermore, Ardshinbank's Private Banking was acknowledged as the best in Armenia by Global Banking & Finance Review magazine and Asian Banking & Finance magazine recognized Ardshinbank as "Best Retail Bank in Armenia". The activities of Ardshinbank are regulated by the Central Bank of the Republic of Armenia.