Established in 1990. Before 1996, it operated as the "Bank for Reconstruction and Development".
The bank is the official agent of the Ministry of Finance and Economy of Armenia on the securities market, the member of SWIFT International Financial Telecommunication System.
The bank serves more than 5500 clients, 18% of which are legal entities and 82% individuals. The bank has 110 employees. The bank has 72 shareholders.