Converse Bank Expands Its International Capabilities Through Cooperation with Citibank N.A.

Converse Bank is pleased to announce the establishment of a correspondent banking relationship with Citibank N.A., one of the world’s leading financial institutions and a key participant in the global U.S. dollar clearing system.

Citibank N.A. has established a correspondent banking relationship with Converse Bank, further strengthening the Bank’s international banking infrastructure and expanding its capabilities for executing international U.S. dollar transactions and settlements. Through direct cooperation with a U.S.-based banking partner, the Bank enhances the speed, reliability, efficiency, and security of cross-border transactions for both individual and corporate clients.

This cooperation marks an important milestone in Converse Bank’s continued efforts to strengthen its international footprint and expand the range of services offered to its customers. In Armenia's highly dollarised economy, direct access to the U.S. financial system is strategically important and allows the Bank to remain competitive while responding to the evolving needs of its clients engaged in international trade, investment, and personal financial transactions.

Establishing correspondent banking relationships with leading international financial institutions requires rigorous due diligence, strong operational infrastructure, and robust compliance frameworks. Cooperation with Citibank N.A. reflects Converse Bank’s continued investment in internationally aligned risk management, compliance, and operational standards, ensuring the secure and efficient execution of international financial transactions.

Grant Akopian, Chief Executive Officer and Chairman of the Management Board of Converse Bank, said: "The establishment of cooperation with Citibank N.A. represents an important strategic achievement for Converse Bank. It strengthens our international payment capabilities and reflects the confidence of leading global financial institutions in our Bank. Most importantly, it enables us to provide our clients with broader opportunities, seamless access to international markets, and the high-quality service they expect from us.

By investing in its global banking infrastructure and expanding the network of trusted international partners, Converse Bank remains focused on delivering reliable, secure, and innovative financial solutions that connect its customers to opportunities around the world, ensuring that its customers benefit from best-in-class financial services and access to the global economy".