Regional and global events are demanding new solutions for corporate business management. Which sectors are currently prioritizing the support of the financial and banking system, and how is Fast Bank meeting this demand? Tigran Mkhitaryan, Corporate Business Management Director at Fast Bank, discussed these critical questions.
Fast Bank’s Strategic Focus: Diverse Sectors and Innovative Tools
Mr. Mkhitaryan highlighted Fast Bank’s broad engagement across nearly all sectors of the Armenian economy. “We both lend to and service almost all sectors in Armenia, from production, industry, agriculture, including international and local trade, as well as the healthcare sector, which is experiencing a significant boom these days,” he stated. A key focus for the bank is the application of leasing tools in Armenia. He emphasized the bank’s agility and flexibility in business lending, building relationships with partners and clients based on transparency and long-term commitment.
Key Achievements and Future Projects
This year has started promisingly for Fast Bank’s corporate business management block. The bank has already grown its portfolio to 120 billion drams and continues to expand. Among the year’s projects, Mr. Mkhitaryan highlighted Fast Bank’s participation in Armenia’s first and largest syndicated loan, specifically the financing of Firebird AI. The bank has also expanded its community of partner-clients, fostering more transparent, long-term, and mutually beneficial relationships.
Currently, in addition to the mentioned project, Fast Bank is actively financing the implementation of international projects, facilitating the inflow of international capital into Armenia. They offer a full range of services to international organizations willing to invest in Armenia. Plans for the current year include establishing a dedicated corporate branch that will offer a more personalized approach to clients and partners, with specialized staff trained in corporate client services.
International Ambitions: Beyond Armenia’s Borders
When asked about the bank’s international market strategy, Mr. Mkhitaryan confirmed that expanding into and integrating with external markets is high on Fast Bank’s agenda. “The Fast brand is known not only in Armenia but also in the United Kingdom, where we have our separate Fast Credit Capital,” he noted. The bank’s mission extends beyond providing services within Armenia to also operating in the international market.
This year has been particularly significant for such projects, with negotiations underway with international financial institutions to deepen relationships. The goal is to provide partner-clients with more efficient and convenient international resources, thereby increasing investments in Armenia. Furthermore, the bank aims to offer more flexible, efficient, and convenient international trade tools, such as international letters of credit and international guarantees, to partners involved in international trade.
Resilience in a Volatile Global Landscape
Regional and global events are reshaping the rules of the economic game. Mr. Mkhitaryan addressed the potential impact of these realities on the corporate business sector and the banking system’s readiness to meet emerging demands. He asserted the Armenian banking system’s long-demonstrated stability, even amidst global instability.
“We have gone through Covid, we have gone through the 44-day war, but both the banking system and our clients, business partners, have shown stability,” he emphasized. He pointed to the consistent growth and quality of loan and deposit portfolios, indicating no significant fluctuations. From this perspective, he believes the current economic and international situation, despite certain upheavals in neighboring countries, will lead to more stable growth for Armenian businesses. He views this as an opportunity for new approaches, new market formations, and the penetration of new international tools into Armenia, rather than a source of significant risks.
Building Long-Term Corporate Relationships
Fast Bank builds relationships with corporate clients based on long-term cooperation and transparency. Mr. Mkhitaryan stressed the absence of hidden commissions or other hidden costs for clients. At the outset of any relationship, the bank strives to cover the entire spectrum of the client’s needs.
Fast Bank is a company aspiring to become a digital bank, with a presence in Yerevan and all regions of Armenia. Fast Bank is supervised by the Central Bank of Armenia.
