Armeconombank (AEB): cards, packages and ownership structure

## About the bank

Armeconombank, or AEB, was founded in 1991 and later absorbed BTA Bank (Armenia). Its shares are traded on the Armenia Securities Exchange. The head office is at 23/1 Pap Tagavor Street in Yerevan.

According to the bank's data as of 18 June 2025, 51.45% of the charter capital belongs to the Sukiasyan family: Saribek, Eduard and Khachatur Sukiasyan. The remaining shares are held by 7,458 shareholders.

## Account for non-residents

The website has no section for non-residents, so the terms for a foreigner to open an account have to be requested from the bank. The site is available in Armenian and English. For a general picture, compare the procedures at other banks; if confirmed remote opening matters to you, look at Ameriabank.

## Cards and payments

The bank's range includes Visa, Mastercard and ArCa cards. Products include:

• Visa Guru and Guru Travel: 0.5-2% cashback on every cashless payment, free access to DragonPass lounges, Fast Track and a 24/7 concierge service.
• The Profit+ salary package: free Visa Classic, Mastercard Standard and ArCa Classic cards, a credit line of up to 15 monthly incomes and a 1% discount on mortgage rates for real estate.

The maintenance cost of Guru cards is not shown on the bank's page, so ask a manager. The bank does not state that it supports Mir or is connected to the SBP; for Mir, use VTB (Armenia).

## Tariffs and limits

The bank publishes card and package tariffs on its website, on the Visa Guru page and the salary package page. Check the current version before applying, as the cashback and package terms change.

## What to ask the bank before visiting

Terms for foreigners are not singled out on the website, so prepare questions in advance:

1. Does the bank accept Russian citizens, and is a visit in person required to open an account?
2. Which documents confirm your address and source of funds?
3. How much does Visa Guru cost to maintain, and on what terms is the 0.5-2% cashback paid?
4. How many free DragonPass lounge visits come with the card, and is there a limit on guests?
5. Does the bank issue ruble cards, and in which currency is the account opened by default?

## Who it suits

• Residents of Armenia with a salary project.
• Those who value the bank's public reporting and shareholder structure.
• Travellers who want DragonPass lounges with the Visa Guru card.

Non-residents and Russians should first compare offers in the ranking of banks and confirm the terms with the bank itself.