In short: Suits customers who want cards in four currencies and service packages from the fifth-largest bank. Terms for non-residents and Russians must be confirmed with the bank directly.
Terms for non-residents
- Non-residents
- Check with the bank
- Remote account opening
- Check with the bank
- Visa / Mastercard
- Yes
- Russian-language support
- No / not stated
- Owner
- MFM Global Invest AG (Baar, Switzerland): 74.999215%; Housing for Young People Universal Credit Organization: 25.000785% (bank data as of 23 March 2026)
- Founded
- 1991
- Size
- AMD 952.2 billion in assets (about $2.63 billion) as of 30 June 2026, fifth in the country
- License
- Central Bank of Armenia license No. 40 of 10 December 1991
- Former name
- Armbusinessbank; renamed AMIO BANK in November 2023
- Amio Active package
- A Visa Gold or Mastercard Gold card is included; bought separately the card costs AMD 8,000 a year
- ATM network
- Free cash withdrawals at the network's ATMs (more than 1,000) under the Amio Active package
- Visa Platinum and Mastercard World
- AMD 18,000 a year, valid for 5 years
- App
- AMIO Mobile; the website is in Armenian, Russian and English
Pros
- Cards in drams, dollars, euros and rubles
- Active, Pro and Exclusive packages with cards included
- The fifth-largest bank in the country, owned by a Swiss company
- Website available in Russian
Cons and limits
- Account-opening terms for non-residents and Russians are not published on the website
- Mir cards are not supported
- Availability of package cards for non-residents has to be confirmed
- Assets grew by 5.26% over the year but fell by 2.27% over the quarter
## About the bank
AMIO BANK is the former Armbusinessbank. The name changed in November 2023; Central Bank of Armenia license No. 40 was issued on 10 December 1991, and the bank's history goes back to Arminvestbank. The head office is at 48 Nalbandyan Street in Yerevan.
The bank is owned by the Swiss company MFM Global Invest AG (Baar), which holds 74.999215% of the shares, and by Housing for Young People Universal Credit Organization, which holds 25.000785% (bank data as of 23 March 2026). The charter capital is AMD 210,094,685,968.
As of 30 June 2026 the bank's assets were AMD 952.2 billion, about $2.63 billion, placing it fifth. Over the year they grew by 5.26%, and over the quarter they fell by 2.27%. The banks ahead of it are Ardshinbank, Ameriabank, Acba Bank and Inecobank.
## Account for non-residents
The bank does not publish the procedure for non-resident individuals to open an account, or the list of documents, on its website. A Russian applicant should write to the bank in advance and find out whether a visit in person is needed and which documents are accepted.
## Cards and payments
Visa and Mastercard cards are issued in drams, dollars, euros and rubles. This is the bank's distinguishing feature: for Russians a ruble card is useful for travel and transfers. The Active, Pro and Exclusive packages include cards.
| Card | Cost | Notes |
|---|---|---|
| Visa Gold and Mastercard Gold (Amio Active package) | Included in the package; AMD 8,000 a year if bought separately | Free withdrawals at the network's ATMs (more than 1,000), free statements and certificates |
| Visa Platinum | AMD 18,000 a year | Travel privileges, 5-year validity |
| Mastercard World | AMD 18,000 a year | Airport lounges, priority passport control, Concierge, credit line from 13.9% up to AMD 10,000,000 |
| Visa Infinite | AMD 90,000 a year | Travel and purchase insurance, 5-year validity |
| Mastercard World Elite | AMD 90,000 a year | Premium card, 5-year validity |
The app is AMIO Mobile. The bank does not support Mir and does not state that it is connected to the SBP (Faster Payments System); for Mir cards use VTB (Armenia).
## Tariffs and limits
Package and card tariffs are published on the bank's website. Premium cards are expensive and are not for everyone: AMD 90,000 a year for Visa Infinite or Mastercard World Elite is justified only for frequent travellers. Ask whether package cards are available to non-residents before applying.
## Who it suits
- Customers who want cards in rubles and euros alongside drams and dollars.
- Those who prefer a package model with free withdrawals at the network's ATMs.
- Those for whom a Swiss main shareholder matters.
If you want a clear remote procedure or a Mir card, consider Ameriabank and VTB (Armenia).
Frequently asked questions
Is this the same bank as Armbusinessbank?
Yes. Armbusinessbank was renamed AMIO BANK in November 2023, and AMIO BANK is its legal successor. Central Bank of Armenia license No. 40 of 10 December 1991 remains in force.
Who owns the bank?
MFM Global Invest AG (Baar, Switzerland) holds 74.999215% of the shares and Housing for Young People Universal Credit Organization holds 25.000785% (bank data as of 23 March 2026). The charter capital is AMD 210,094,685,968.
Where does the bank rank by assets?
Fifth, with AMD 952.2 billion as of 30 June 2026. Assets grew by 5.26% over the year.
How much do the cards cost?
A Visa Gold or Mastercard Gold is included in the Amio Active package; bought separately it costs AMD 8,000 a year. Visa Platinum and Mastercard World cost AMD 18,000 a year, and Visa Infinite and Mastercard World Elite AMD 90,000 a year.
Does the bank issue cards in rubles?
Yes. Visa and Mastercard cards are issued in drams, dollars, euros and rubles.
Does Mir work with this bank?
No. VTB (Armenia) is the only bank where Mir cards are accepted.