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Regional and global events require new solutions in corporate business management. Which sectors currently need support from the financial and banking system, and how does Fast Bank meet that demand? We will discuss this with Tigran Mkhitaryan, the Corporate Business Management Director of Fast Bank:
-Mr. Mkhitaryan, what are the current primary directions of the economy and target sectors that are shaping demand and are active from a lending perspective?
-We provide loans and services to almost all sectors of the Republic of Armenia, starting from production, industry, agriculture, including trade—both international and local—as well as the currently rapidly growing healthcare sector. One of our main targets is the application of leasing instruments in the Republic of Armenia. From the perspective of business lending, we are very quick, very flexible, and we build relationships with our partner-clients based on transparency and long-term cooperation.
- What key achievements does the Corporate Business Management block of Fast Bank have this year, and what new projects are you currently working on?
-This year has started quite promisingly; we have already reached a portfolio of 120 billion drams, and we continue to grow. Among this year's projects, I would like to highlight Fast Bank's participation in Armenia's first and largest syndicated loan; you are all aware of the financing of Firebird AI, in which the Bank has participated. This year, we have increased and expanded our community of partner-clients, based on more transparent relationships, and the foundation of these relationships is based on longer-term and mutual understanding principles.
Currently, in addition to the mentioned project, we are also financing the implementation of international projects—the so-called inflow of international capital into Armenia—and we offer all types of services to international organizations that are willing to invest in Armenia.
This year, we plan to create a corporate dedicated branch where our clients and partners will receive a more personalized approach, and the employees of this branch will be trained in corporate client service and will have specialized knowledge.
-Mr. Mkhitaryan, you mentioned the international market; are we correct in understanding that the Bank's agenda also includes the task of entering and integrating into external markets?
-You are absolutely right; the Fast brand is known not only in Armenia but also in the United Kingdom. We have our dedicated Fast Credit Capital there, and our mission is to provide services not only within the territory of the Republic of Armenia but also in the international market. This year has been very unique in the framework of such projects, as we are negotiating with our international financial institutions to deepen relationships and provide our partner-clients with more effective and convenient conditions for international resources, based on which the number of investments in the Republic of Armenia will increase.
-Mr. Mkhitaryan, regional and global events are changing the rules of the game in the economy; in your opinion, what impact can these realities have on the corporate business sector, and is the banking system ready to meet the newly emerging demands?
-The banking system of Armenia has already demonstrated its stability for many years, regardless of the fact that the world around us is currently very unstable. We have gone through Covid, we have gone through a 44-day war, but both the banking system and our clients, business partners have shown stability. And even if we look at the credit portfolio or the deposit portfolio, we will see that there have been no fluctuations, and there has always been stable growth and stable quality of the portfolio.
Based on this reality, in the current economic situation and the current international situation, where there are certain upheavals in our neighboring countries, our businesses will demonstrate more stable growth. In my opinion, this is more of an advantage for new approaches, the formation of new markets, and the penetration of new international instruments into Armenia than certain risks.
-How does Fast Bank build long-term relationships with corporate clients?
-At Fast Bank, relationships with corporate clients are built, as I mentioned, on the principles of long-term cooperation. We organize and build our relationships with clients based on principles of transparency; we have no hidden commissions, no hidden other costs that the client bears. All relationships are primarily built on principles of transparency and long-term cooperation, and at the beginning of any relationship, we try to cover the entire spectrum of the client's needs.
Fast Bank is a company aimed at becoming a digital bank, represented in Yerevan and in all regions of Armenia.
Fast Bank is regulated by the Central Bank of the Republic of Armenia.
