On June 2, the Board of the Central Bank of Armenia (CBA) issued a license to All Armenian Bank public corporation.

The bank's authorised capital amounts to USD 100 million; USD 20 million was provided by the government.

All Armenian Bank's board is chaired by Armenian Prime Minister Tigran Sargsyan; presidential advisor Vahram Nersisyants was appointed as bank's CEO.

All Armenian Bank's activities will focus on provision of long-term credits, with IT sector, healthcare, education and tourism selected as priority spheres.