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Society

Opportunities and Prospects for Cooperation Between Business and the Banking System in Syunik Region – IDBank

IDBank participated in a conference organized in Kapan by the Union of Banks of Armenia (UBA), titled “Opportunities and Prospects for Cooperation Between Business and the Banking System in the Syunik Region.”

The conference began with the “Banks in One Place” expo, during which residents and entrepreneurs had the opportunity to communicate directly with bank representatives, present their business ideas and needs, and learn about financing, credit, and consulting opportunities.

The expo served as an open platform for cooperation, Q&A sessions, and the development of mutual trust.

According to Tigran Aghajanyan, Coordinator of SME Retail Network Unit at IDBank and Idram, Idram has expanded its contactless payment coverage in the regions to support the growth of small and medium-sized enterprises (SMEs). “Across Armenia, payments can be made with the Idram&IDBank app in more than 25,000 points of sale, and 40% of these belong to regional businesses. We clearly see increased activity in contactless payments in the regions. Through all our products, including banking ones, our teams visit businesses directly—allowing them to access a full range of payment tools without wasting time or dealing with lengthy paperwork, from instant business loans to payroll cards and contactless payment solutions,” he noted.

Vladimir Stepanyan, Head of IDBank’s Kapan Branch, stated that the Bank’s regional branch network has grown significantly in 2024–2025. “We now have branches in Abovyan, Gyumri, Vanadzor, Etchmiadzin, Armavir, Artashat, Hrazdan, and the village of Proshyan. The Kapan branch was opened this year to become more accessible to our clients in the Syunik region. Expanding our branch network in the regions is an excellent opportunity not only to provide more convenient service to individual clients, but also to improve our business customer service. Business clients no longer need to travel to Yerevan to visit a branch. We’re bringing the same high-quality banking services closer to them as those available in the capital,” said Stepanyan.

IDBank offers a wide and diverse range of banking products for both businesses and individual clients. In all its branches, whether in the capital or the regions, clients receive comprehensive information about the products they’re interested in and make well-informed choices thanks to professional consultation.

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