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Society

IDBank Receives Permission to Open a Representative Office in the United States

Recently, IDBank achieved another major milestone: by the decision of the Board of Governors of the U.S. Federal Reserve System dated November 12, 2025, the Bank was granted permission to open a representative office in Glendale, California, USA.

According to Mher Abrahamyan, Chairman of the Management Board of IDBank, this permission carries strategic importance for the Bank. It will ensure the Bank’s physical presence in the U.S. market, particularly in Glendale, a city with a large Armenian community, and will allow current and potential clients to get acquainted with all of the Bank’s services. “The opening of IDBank’s representative office in the United States is a major step forward, bringing us closer to our compatriots living in America. We are confident that it will also contribute to expanding business opportunities in our country and open new avenues of cooperation between the Bank and our clients,” said Mher Abrahamyan.

The Glendale representative office will carry out consulting and informational functions, aiming to present the Bank’s current and new products to potential clients, as well as to establish and maintain communication with customers.

According to Lida Safaryan, Vice President of IDBank and Head of Premium Banking Services Department, this is a significant event for Armenia’s banking system:
“IDBank not only implements best international practices in its operations, but also builds connections with international markets, creating a solid foundation for future cooperation. The Bank’s representative office will become the vital link that will strengthen the ties between our compatriots abroad and Armenia, opening new doors and opportunities,” noted Lida Safaryan.

Thus, in addition to its extensive operations in Armenia, IDBank is also expanding abroad, and the Bank’s U.S. representative office will soon open its doors to our compatriots, in line with the international expansion strategy of the ID Group of companies.

THE BANK IS SUPERVISED BY THE CBA