Financial statements

 

  • Chairman of the Board - Suren Karayan

    Mr. Karayan graduated from Yerevan State University. Mr. Karayan started his professional career at RA Ministry of Finance and Economy as Leading Specialist at Tax Policy Department , then worked as Acting Head of Division of Tax Policy Department,  Head of Division. In subsequent years he worked as Acting Head of Tax Policy Department, Head of Department at RA Ministry of Economy and Finance, Deputy Head of General Department of State Revenue Policy, Head of Tax Policy Department at RA Ministry of Finance and Economy, Head of General Department of State Revenue Policy and Head of State Revenue Policy Department of RA Ministry of Finance and Economy. From 2006-2008 he held the position at RA Deputy Minister of Finance and Economy.

     In 2008-2015 RA Deputy Minister of Finance, RA First Deputy Minister of International Economic Integration and Reforms.

     From 27 September-6 October, 2016 Mr. Karayan was the Minister of Economy of the Republic of Armenia . As of 6 October 2016 Mr. Karayan holds the position of Minister of Economic Development and Investments of the Republic of Armenia.

    Mr. Karayan is awarded with the Medal of Anania Shirakatsi, 2nd degree Medal for Services to Homeland and Honorary Diploma of RA Minister of Defense.

     

  • Board Member - Hovhannes Azizyan

    Mr. Azizyan graduated from the faculty of physics of Yerevan State University with the specialty of physicist. He continued his studies at the School of Public Administration, later he was applicant at the Institute of Economic Research of the Ministry of Finance and Economy of RA.

    Mr. Azizyan started his professional career in the RA “Seismic Protection National Service” Agency as junior researcher, later worked at Masis regional agro service as engineer. In subsequent years he worked at RA Ministry of Finance and Economy as Head of Economy State Regulation Department, Head of Economic proportions Department and Head of the General Department for Macroeconomic policy. Then he continued his career as consultant, project local coordinator and coordinator of economic and financial policy advice of the “Private sector development South Caucasus”  Project of the “Support to the Strategies Development”  Project at Germany Technical Cooperation (GTZ).  Mr. Azizyan held the position of Director of “West Plast Group” LLC and "GRP Systems" CJSC . From 2015-2016 he worked at RA Ministry of International Economic Integration and Reforms as Chief Adviser to the Minister.
    Starting from November 7, 2016 Mr. Azizyan holds the position of Deputy Minister of Economic Development and Investments of RA.

  • Board Member - Hayk Harutyunyan 

    Mr. Harutyunyan finished the Regents School (Thailand) where he obtained International Baccalaureate (IB) Diploma. Then he continued his studies at the University of Lancaster (UK) the Department of Politics and International Relations. Subsequently he earned his Master’s Degree from the University of Cambridge (UK), International Relations Department, and studied Executive MBA at Skolkovo Moscow School of Management (Russia). He started his professional career as a Bilateral Affairs Officer at Defence Policy Department of the Ministry of Defence of RA, then he held the positions of Staff Officer in the Staff of RA First Deputy Minister of Defence. Then he continued his work as Deputy Director, then as Acting General Director at MetsamorEnergoAtom, General Director at Armount Group CJSC and General Director at BB Group LLC.
    Starting from 2014 he is the Deputy Minister of Energy and Natural Resources of RA.

  • Board Member - Armen Harutyunyan 

    Mr. Harutunyan graduated from Armenian National Agrarian University and Texas A&M University, Agribusiness Training Center, the Department of Finance and Management. Then he obtained his Master’s degree at Public Administration Academy of the Republic of Armenia the Department of  Public Administration. Later he graduated from the University of Bristol, the Department of International Development. He started his professional career at Agrogitaspiur Department of Armenian National Agrarian University as an expert. Then worked as an expert at USDA Marketing Assistance Program. In subsequent years he worked as the coordinator of the Akhalkalaki branch at USDA and Georgia Agricultural Development Program, at Agribusiness and Rural Development Center Foundation as an economist, at Agribusiness and Rural Development Center Foundation as a Program Evaluation and Monitoring Expert, at Armenian Harvest Promotion Center as a Head of Marketing and International Relations Department, at International Center for Education and Research as an Expert. He also worked as a lecturer at Agribusiness Training Center. In 2012 he was appointed to the position of Adviser to the Minister of Agriculture and starting from 2013 to he holds the position of Deputy Minister of Agriculture.

  • Board Member - Gagik Vardanyan 

    Mr. Vardanyan studied at Yerevan Technical College N 2, then he graduated from Scientific Research Institute of the State Committee on Material-Technical Supply of the USSR (Moscow) and Yerevan Institute of National Economy, Department of Sectorial Economics. In 2009 he defended his doctoral thesis on "Knowledge-based economy formation problems in the Republic of Armenia". He started his career as a lecturer at Yerevan Institute of National Economy. Along with academic activities he held responsible positions at "Agrobank" CJSC, "Armentel" JV company, Tax Inspectorate of RA, Ministry of Industry and Trade of RA. In subsequent years, he held the positions of Chief Advisor of the Minister of Industry and Trade of RA, Deputy Minister of Trade and Economic Development of RA, Associate Professor of Marketing Department at Armenian State University of Economics. Starting from 2011 he holds the position of Vice-Rector at Armenian State University of Economics.

  • Board Member - Hayk Mnatsakanyan 

    Mr. Mnatsakanyan graduated with honors from Yerevan State University, Department of Economics. He has PhD in Economics. In 2007 he became an Associate Professor. Mr. Mnatsakanyan started his career path as a Head of the Foreign Relations Department at the Ministry of Post and Telecommunications of RA, then he continued as Senior specialist at Credit and Investment Department of Armenian Development Bank. In subsequent years he was acting Head of Finance and Accounting Department of Yerevan State University and associate professor at the Finance and Accounting Department of Yerevan State University. Starting from 2008 he is the Head of Finance and Accounting Department of Yerevan State University.

  • Board Member - Robert Harutyunyan

    Mr. Harutyunyan graduated from the Finance Academy under the Government of the Russian Federation. Later continued his postgraduate studies at Yerevan State University, defended his doctoral thesis and earned Ph.D degree in Economics. Then he studied at SBS Swiss Business School, where received Master’s degree in Business Administration. He started his professional career at the Central Bank of Armenia as a specialist at foreign currency transactions department, then as Head of that department.In subsequent years held the positions of the Executive Director of the Foreign Financial Programs Management Center in the Ministry of Finance and Economy of Armenia , General Director of "Armenian Development Agency" CJSC, Member of the Board (Minister) of the Eurasian Economic Commission.

    Starting from 4 March, 2016 he holds the position of Deputy Minister of Foreign Affairs.

  • Board Member - Suren Krmoyan

    Mr. Krmoyan graduated from Yerevan State University, the Department of Law. Then he continued his studies at the National Academy of Sciences Institute of Philosophy and Law. In 2012 he obtained the degree of Doctor of Law. In subsequent years, he attended the training course referred to as “Procurement management in the World Bank-funded projects” (Torino, Italy), where he received the Certificate of Procurement Management Specialist. Mr. Krmoyan started his professional career at the Ministry of Transport, Office of the World Bank-supported program, then he worked as a lawyer at the Legal Department of the Central Bank, as an Administrative Manager and legal advisor, a legal expert, a lawyer at Health Project Implementation Unit SA. He also worked at Health System Modernization Japanese grant program as a local expert, lawyer. He continued his professional career as a Legal Adviser to RA Minister of Health and Chief of Staff of Health Ministry of RA. Starting from May 22, 2014 he holds the position of Deputy Minister of Justice of RA.

  • Board Member - Armen Hayrapetyan 

    Mr. Hayrapetyan graduated from Yerevan State Institute of National Economy.

    Mr. Hayrapetyan started his professional career at Ararat Branch of “Armsavingsbank” as Senior Economist at Credit Department, afterwards he worked at RA Ministry of Finance and Economy as Head of State Duties and Non-Tax Revenue Policy Division of State Budget Revenue Policy General Department, at RA Ministry of Finance, Head of State Duties and Non-Tax Revenue Policy Department and as Head of State Duties and Non-Tax Revenue Policy Department of State Revenue Policy General Department. Later, Armen Hayrapetyan occupied the positions of Head of Macroeconomic Policy Department at RA Ministry of Finance and Economy, Head of Macroeconomic Policy Department at RA Ministry of Finance and Economy, Head of Macroeconomic Policy Department at RA Ministry of Finance, RA Deputy Minister of Finance, Acting Head of Macroeconomic Policy Department at RA Ministry of Finance and Head of Macroeconomic Policy Department at RA Ministry of Finance. Parallel to his professional activity, Mr. Hayrapetyan participated in various training courses – both, in RA and abroad.

    Since October 2016 Mr. Hayrapetyan occupies the position of RA Deputy Minister of Finance. 

  • Chairman of the Management Board , Executive Director - Vazgen Abgaryan

    Vazgen Abgaryan studied at Russian - Armenian (Slavonic) University, Department of Economics and Finance with a specialization in International Economics. Upon graduating with honors, continued his studies as a Ph.D researcher at the same University. Later Vazgen Abgaryan successfully defended his doctoral thesis and earned Ph.D degree in Economics. In subsequent years he continued his studies at the University of Cambridge Judge Business School, with a specialization in Finance.

    Vazgen Abgaryan started his professional career with different positions at ARMENBROK OJSC, then he continued his work as a Project Manager at Stock Investment Holding CJSC. Later he held the position of Chief Financial Officer at Nushikyan Assosiation LLC.

    Starting from 2016 he holds the position of Executive Director at Export Insurance Agency of Armenia.

  • Member of the Management BoardDeputy Executive Director  - Vardan Yeghiazaryan

    Vardan Yeghiazaryan graduated from Yerevan State Engineering University, obtaining the specialty of an Engineer-constructor. Afterwards, he graduated from Faculty of Finances and Accounting, Department of Finance & Credit of Armenian State University of Economics. Parallel to his professional career, Mr. Yeghiazaryan has participated in many professional workshops/trainings in RA, as well as abroad.

    Mr. Yeghiazaryan started his professional career in 1994 as a Banking Supervisor at Central Bank of Armenia, at the same time being a мember of the Internal Audit unit of the Central Bank of Armenia. In subsequent years he worked as an auditor-accountant at Armenian-French Audit Company “Amyot Exco Armenia”, at Araratian Patriarchal Diocese and in Mother See of  Holy Etchmiadzin as Head of Administrative Department. Later Mr. Yeghiazaryan worked at “ARMECONOMBANK” OJSC as Head of Plastic Card Operations Department, after which he occupied the position of Head of General Department of Corporate and Retail Business Management and Innovative Technologies. Then Mr. Yeghiazaryan held the position of the Head of Branch at Unibank OJSC.

    Starting from May 3, 2016 he holds the position of Deputy Executive Director at Export Insurance Agency of Armenia.

  • Member of the Management BoardGeneral Counsel - Armen Khachatryan

    Armen Khachatryan earned his Master’s degree in Law at French University in Armenia Foundation (FUAF). Mr. Khachatryan worked as Legal Counsel at Law Department of the Central Bank of Armenia for more than 6 years. Armen Khachatryan also took a number of professional courses and trainings in RA and abroad. 

    Starting from January 2014 he holds the position of General Counsel and leads the Legal Advice and Claims Regulation Department at Export Insurance Agency of Armenia ICJSC.

  • Member of the Management BoardChief Accountant - Lilit Varosyan

    Lilit Varosyan graduated with honors from Armenia State University of Economics where she earned her Master’s degree. Ms. Varosyan has more than 6 years of experience in the accounting field. She worked as accountant at Reso Insurance CJSC. From 2013 up to present she is an ACCA (the Association of Chartered Certified Accountants) student.

     

  • Responsible Actuary - Zaruhi Hakobyan

    Mrs. Hakobyan graduated from Armenian State University , Faculty of Mathematics and Mechanics, Actuarial Mathematics. She has more than 5 years of experience in the insurance field. Worked at Unibank CJSC,later at Haypost CJSC . Mrs. Hakobyan works as responsible actuary at "Sil Insurance" ICJSC.Starting from January 2016 she holds the position of responsible actuary at Export Insurance Agency of Armenia.

  • Head of Internal Audit -