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With no or low costs for establishing and keeping a monetary account, Armenia provides a reliable and sustainable financial sector. It accepts the majority of international currencies and offers a comprehensive variety of fiscal activities, notably internet and mobile payment system.

Within two working days, any international individual or business can open an account in the nation. All you need are a few documents, such as a financial statement, a history of good credit, and a utility bill. 

In Armenia, opening an account is a straightforward process. The only thing that can be unclear is which one is best for you. If you want to open a business or personal account or you need a loan, you can choose from the following list of top Armenian banks.

Central Bank Armenia 

The CBA is an independent organization in charge of maintaining the nation’s foreign exchange reserves, supervising and controlling the lending industry, and producing all currencies and coins in the nation. As a participant of the Association for Economic Cooperation, it promotes financial inclusion through its policies. 

Maintaining institutional capabilities and successfully influencing market forces is its primary goal. 

While continuing to be an important partner to the Government in addressing economic issues, it promotes Armenia’s sustainable macroeconomic development.

Products: Finances and loans. 

America Bank 

With its headquarters in Yerevan, Armenia, it provides consumer, commercial, and industrial financing facilities. It was founded in 1910 as a subsidiary of the Caucasian Commercial Financial institution, which was later renamed the Armenian division of the USSR Vneshtorg in Soviet times.

Products: mortgage loans, credit cards, property administration, private financing, wealth management, and private financial services.


“Industrial Construction Finance” closed joint-stock corporation is the full title of the institution. The American publication “Global Finance” called it “the Safest institution for money and lending in Armenia.” 

In the EBRD’s commercial efficiency program, it was also referred to as the “Most active issuing bank”.

Products: Charge cards, home loans, business banking, and corporate finance.


One of the top South Caucasus organizations, Ineco is based in Yerevan, Armenia. The institution provides consumers, SME customers, and business clients with a broad variety of economic products, particularly e – payment. 

Products: Credit cards, consumer services, business financing, and electronic transfers.


Within the framework of the European Union’s TACIS program, the ACBA financial institution was founded in 1996. It is Armenia’s top institution for funding agribusiness, particularly in rural areas. It has 57 locations across the nation. 

Products: customer assistance, commercial and investment goods, card payments, housing loans, and digital services.


It is a British international parent corporation for global banks and commercial activities. By asset value, it is the biggest bank in Europe, with US$2.953 trillion. Almost 40 million clients are served by HSBC’s 64 branches spread in Europe, Asia, Oceania, Africa, South, and North America. As per a combined ranking by Forbes, HSBC was the 40th-largest private organization on earth. 

Economic services, international finance and commodities, and luxury and personal banking make up HSBC’s organizational structure.

Products: capital management, lines of credit, unit trust, private equity, protection, stockbroking, healthcare, financial advisory, equities, and commodities.

Arm Swiss bank

In February 2005, Arm Swiss CJSC, a commercial and financial firm, was established in Yerevan. To increase its capabilities, the organization also received custodial and trading licenses. To facilitate transactions with affiliate enterprises, it has enrolled in global payment networks like Swift, cabinet, and BankMail.

Services: Personal and commercial financial services, and corporate and institutional assistance.


Armenian bank Artsakh bank has its main office in Yerevan. The Corporation has 11 facilities in the unrecognized State of Artsakh and 7 subsidiaries in Yerevan as of November 20, 2017. 

Products: Financial services


Corporate bank Evoca bank is based in Yerevan and serves Armenia. Evoca bank’s smartphone app EvocaTOUCH offers responsive and cutting-edge solutions. In 2016, the institution received authorization to participate in the “MasterCard Europe” network as an associated partner. For the past two years, the International Banking journal has named Evoca bank “The Top Public Online Bank in Armenia”. 

Products: Time deposits, credit cards, mortgages, retail, and business banking.


Mellat is a corporate Iranian bank. Its name translates to “Bank of the Nation”. Bank Mellat was founded in 1980 as a result of the merging of ten private organizations from before the uprising, with a fixed capital of 33.5 billion Rials. 

Products: credit cards, mortgages, financing and insurance, private banking, private equity, wealth management, and consumer and business banking.