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Society

AraratBank Named Armenia’s Best Sub-Custodian Bank by Global Finance

For the third year in a row, AraratBank was recognized as the Best Sub-Custodian Bank in Armenia by the professional team of the premium international magazine Global Finance.

At its 21st annual Best Sub-Custodian Bank Awards ceremony held on May 30, 2023 in New York, Global Finance announced its selections in seven regions and more than 80 countries, territories and districts.

Global Finance’s editorial board considered market research, input from expert sources and entries from banks to select the institutions that reliably provide the best services in local markets and regions. The criteria included customer relations, quality of service, competitive pricing, smooth handling of exception items, technology platforms, post-settlement operations, business continuity plans and knowledge of local regulations and practices.

Global Finance also obtained input from users of sub-custody services. Performance was judged over the period covering January 1, 2022 through December 31, 2022. “Securities servicing continues to evolve as its underlying technology advances by leaps and bounds,” said Global Finance founder and editorial director Joseph Giarraputo. “Global Finance’s Best Sub-custodian Bank Awards recognizes organizations that provide innovative and efficient offerings to clients from around the world.”