Yerevan, 23.February.2024,
00
:
00
1 $ = 0 ֏, 1 = 0 ֏, 1 = 0 ֏
BREAKING


IDBank and Idram consolidated within ID Group Armenian Holding

SOCIETY

Considering the successful strategic cooperation of the two companies and the convergence of development visions, Idram and IDBank consolidated within ID Group Armenian holding, which currently controls 100% of the shares of Idram and IDBank.

Founded in 2023, ID Group is owned by citizens of the Republic of Armenia Lala Bakhshetsyan and Vartan Dilanyan.

According to Vartan Dilanyan, shareholder of IDBank, this decision is primarily due to the successful strategic cooperation of the two companies and provides an opportunity to progressively develop digital banking in Armenia. The companies provide a single platform for instant payment solutions and banking services, in which clients of both companies receive a full package of remote financial services, saving their time and receiving high-quality service. “Within the ID Group, we will continue to implement the Bank’s strategic goals, focusing even more on the FinTech direction,” said Vartan Dilanyan.

Lala Bakhshetsyan, as a pioneer of e-money investments and development in Armenia, believes that the integration of companies' capital, expertise and IT resources in ID Group will enable not only to continue successfully develop the digital ecosystem, but also to export successful fintech solutions developed and implemented in Armenia to other countries in the near future. "The synergy of two companies and their abilities in ID Group will allow to invest more resources in the development of the mentioned directions and contribute to the development of innovative solutions in the financial sector of our country," said Lala Bakhshetsyan.

ID Group reports that it aims to continuously invest in promising complementary companies and projects.

Vartan Dilanyan initially acquired 59.7% stake in ID Bank's shares back in 2016, and by 2022, he became the sole owner of ID Bank, with a vision to advance digital banking in Armenia. Concurrently, Vartan Dilanyan has been actively involved in shaping and implementation of IT and digitalization strategies with a global outlook focused on regions such as the Middle East, Kazakhstan and Armenia, being the main shareholder of Axellect Holding. The establishment of ID Group has provided Vartan Dilanyan with an opportunity to allocate a portion of its resources toward the growth of Axellect Holding's international business. This, in turn, enables the infusion of best international insights and expertise into the Armenian FinTech market.

Lala Bakhshetsyan with her husband, Ruben Kurghinyan, started to develop the electronic money (digital wallet) sector in Armenia when they acquired the leading Armenian e-money company Idram in 2017, believing in the development prospects of the Armenian fintech sector and having enough experience to develop the new strategic direction. In 2020, after Kurghinyan's death, Lala Bakhshetsyan continued the development of the family business․

Thanks to the investments of the Kurginyan-Bakhshetsyan family, Idram has become a leading fintech platform, registering a rapid growth in terms of customer base, scope of financial services, technological infrastructure and revenues.

COMPANIES ARE SUPERVISED BY THE CBA

Interview with Chairman of BOGG PLC Mel CarvillGet 5% cashback on your AMIO digital card! Get 5% cashback on your AMIO digital card!Book Giving Day in Khnko Aper Library. IDBankTransfer your loan and take benefit of the 1.5% low interest refinancing offerAraratBank Donates to Regional Libraries: BOOKS FOR ALLAmeriabank set to join BOGG, a London Stock Exchange (LSE) listed financial group as a standalone entityWhich Book to Choose as a Gift for the Book Giving Day? A Piece of Advice from Idram and IDBankAMIO BANK will start the leasing process in the immediate futureFast Bank has received a Mastercard membership license Two new sports channels in Ucom's uTV channel listA bunch of smiles in the city. "Artsakh" branch of AMIO BANK has been reopened A network ready for the transition to 5G and qualitatively new television. Ucom signed official agreements with Nokia and MediaKindHow to Celebrate Love Days? A Piece of Advice from Idram and IDBankVisa Travel card - your best friend of the road Ardshinbank announces agreement to acquire HSBC ArmeniaFastex to Provide up to 5 Million $FTN to the “Olympionic” Sports FoundationAMD 3,665,972 to Armenian Mothers. In February, Cancer Awareness Month, The Power of One Dram will be directed to the City of Smile Ambassadors accredited to Armenia, Galaxy Group and Ucom leaders spoke at the largest event of the European Business Association Idplus Digital Fuel Cards: Everyone Makes a Plus Ameriabank is the Largest Taxpayer Among Armenian BanksThe Director General of Ucom delivered a lecture at the School of Ethics New promotion from AMIO BANK for international SWIFT transfersPay for the Parking with Idram with One Click IDBank’s Davtashen Branch Is Waiting for Customers After Renovation"United and caring". Ucom participated in the collaborative charity initiative of Galaxy Group of Companies and Armenian Red Cross Society About 5,000 families forcibly displaced from Artsakh received 100 tons of aid from Galaxy Group of CompaniesConverse Bank for the fifth time in a row is recognized as the best by Global Finance The announcement on the complete allocation of "Euroterm" bonds ahead of schedule.Ucom and SunChild NGO Power Aghavnadzor Kindergarten for Year-Round Operation Zangezur Copper-Molybdenum Combine has invested more than 5 billion AMD in social development projects in 2023Ralph Yirikian, Director General of Ucom, congratulated the forcibly displaced children from Artsakh living in Tavush and Vayots Dzor with New Year’s giftsThe amount of 3.945.010 AMD to the Health Fund for Children of Armenia. The power of one dram for January will go to “Armenian Mothers” fund ARARATBANK attracts USD 5 million from EFSE to support MSMEs in Armenia The Christmas gift from the Galaxy Group of Companies is the restoration of a song extricated by Khrimian Hayrik Galaxy Group of Companies replaced the traditional New Year's gifts with houses of kindness and peace crafted by the children of ArtsakhThe contribution of Ucom company and SunChild NGO to the Goghtanik settlementAraratBank named the Best CSR Bank in Armenia 2023 The Christmas Miracle in Shirak Region - Ameriabank Santas Visited Children from Artsakh Ruben Vardanyan's arrest is a message to the entire Armenian world and the Armenian people. It is a wake-up call for the Armenian dignityIdram, IDBank and Hayordi for the children of ArtsakhLeadership of Galaxy Group of Companies Summarized 2023Ucom Attains Prestigious ISO 27001 Certification for Information Security ExcellenceUcom’s fixed network is already available in Sevan A solar plant in Rind settlement was launched as a result of the cooperation between Ucom and SunChild NGOMoody’s upgrades IDBank’s long-term deposit ratings to B1, changes outlook to positive How Ameriabank continued to deliver success amid the volatility of the global markets Ucom's New Year's parade continues. the new offer has already started The public movement "Zang" issued a statement that they were subjected to violence while carrying out a civil protest Ucom and Smartcom gifted smartwatches and uKid application services to COAF SMART Center children