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IDBank participated in the conference dedicated to the 10th anniversary of the Armenian Institute of Directors

IDBank took part in the exclusive conference dedicated to the 10th anniversary of the Armenian Institute of Directors (AIoD), “Boards of Directors in Armenia: Challenges and Opportunities.” The event brought together chairpersons of boards, executives, international experts, and policymakers.

Throughout its ten years of activity, AIoD has played a significant role in strengthening Armenia’s corporate governance culture and fostering responsible and accountable management practices. As an active partner of AIoD and a pioneer in quality governance, IDBank highly values the creation of such platforms, where important institutional and economic solutions for the country’s future are shaped.

Elena Khachvankyan, Chair of the AIoD Board and Member of IDBank’s Board, delivered a keynote speech at the opening of the conference, highlighting the importance of the cooperation between the Bank and the Institute. She noted that in recent years, the Bank has invested significant effort into enhancing Board diversity and strengthening its corporate governance practices: “The Bank includes on the Board’s agenda issues that are essential both for long-term and sustainable development and for effective risk management. Strong corporate governance helps build trust among regulators, the public, customers, and employees, as professional Board members can properly balance risks, enabling the Bank to implement its strategy without major obstacles while considering the interests of various stakeholder groups. IDBank also shares the values promoted by the Armenian Institute of Directors,” she emphasized.

During the event, panelists shared their experiences and discussed how boards of directors can enhance organizational efficiency, innovation, and sustainability. Participants emphasized that strategic thinking, strong managerial responsibility, and ethical conduct are essential prerequisites for long-term success.

Armenuhi Hovakimyan, Director of the Armenian Institute of Directors, highlighted the mission of the Institute and the importance of close cooperation with banks and financial institutions:
“Financial institutions work with the funds of many people, which inherently involves risk. To manage and distribute this risk, collegial decision-making is vital; therefore, the financial sector was among the first to establish and develop well-functioning boards. IDBank, which is one of the strong supporters of corporate governance, has also joined us within the framework of this event.”

IDBank consistently prioritizes corporate governance, transparency, and continuous enhancement of Board effectiveness, aiming to contribute to the development of a stronger and more competitive banking environment.

THE BANK IS SUPERVISED BY THE CBA