Investment and Non-principal Services Provided by Artsakhbank CJSC
Artsakhbank CJSC provides the following investment services:
  • Receipt and transfer of the Clients orders on securities transactions.
  • Securities transactions on behalf of the Bank or the Client and at the Client’s expenses.
  • Securities transactions at the Bank expenses and on behalf of the Bank.
Artsakhbank CJSC provides the following non-principal services:
  • Securities Depository
Subjects of Depository Services
  • State short-term, medium-term and long-term state coupon bonds (T-bonds), issued by the RA Ministry of Finance.
  • Bonds issued by the CBA, as well as other state bonds to be issued and circulated in the future.

Investment services and non-principal services are provided by the Bank’s Treasury.

Terms and Conditions for Client’s Payments

Clients are charged by the Bank for the services provided according to the tariffs defined by the Executive Board of the Bank. Commissions are charged on monthly bases from the account(s) balance(s) on the last business day, in accordance with the Bank’s Tariffs and Rates. Should the Client lack the required funds for charges, the commissions of the Deposotor will be paid from the Client’s foreign currency account(s) by the CBA average market rate on the due period of charging.


Tariffs for providing security services with corporate securities
Securities account opening free of charge 
DEPO account maintenance free of charge
Custody of securities available on the account (except for securities registed by a foreign depository)2 0.0010%
Custody of securities registed by foreign depository3 Rate (taxes incl.)of the Central Depositary of Armenia set for the Bank + additional 25%
Enter securities to the Customer’s DEPO account AMD 0
Interbank transfer of securities AMD 1 000
Intrabank transfer of securities    
Stocks (including Free Delivery Option)  
under AMD 1 000 000 AMD 1 000
over AMD 1 000 001 0.10%, AMD 2 500 000 Max
Bonds (including Free Delivery Consent)  
under AMD 2 000 000 AMD 200
 over AMD 2 000 001 0.01%, AMD 300 000 Max
Account-to-account transition of securities as a result of repo or reverse repo transactions AMD 9 000
Portfolio Transition AMD 10 000
DVP Transaction of Stocks  
under AMD 1 000 000 AMD 2 000
over AMD 1 000 001 0.20%, AMD 3 000 000 Max
DVP Transaction of Bonds  
under AMD 10 000 000 AMD 2 000
over AMD 10 000 001 0.02%, AMD 300 000 Max
Securities Capture, Freeze, Blocking  
Stocks Capture 0.01%, AMD 2 500 000 Max
Bonds Capture 0.02 %, AMD 450 000 Max
Securities or securitee account freeze 0.1%, AMD 2 500 000 Max
Prohibition on trading of securities AMD 1 000
Cancellation of capture, freeze, prohibition on trading AMD 1 000
Re-registration of securities AMD 5 000
Provision of statements and references free of charge
Calculation and Receipt of Income on Securities Rate (taxes incl.) of the Central Depositary of Armenia set for the Bank + additional 25%
Additional Data Provision Contractual Fee


Brokerage Service Charges (Inclusive of VAT)
  <=20mln                 >20mln                  Min fee                   
CSI (shares, securities)                                 
Armenia 0.14%                                           0.12%                                     5 000
Russia 0.14%                  0.12% 5 000
Europe (shares, depositary receipts, other securities)  0.25%                  0.22% 15 000
ASIA (shares, depositary receipts, other securities) 0.25%                    0.22% 12 000
North America (shares, depositary receipts, other securities)      
USA5 0.022%                        0.02% USD 18
Canada6 0.038%                0.035%              CAD 30
Operations with State Securities
Openning and Maintenance of depo account AMD 0
Transition of State Securities upon investor’s request AMD 500
Preparation of a Depot order by the Bank (Inclusive of VAT) AMD 1 000
  • Tariffs do not include commissions charged by other organizations (trading systems, foreign depositories, depositors, registries, etc), as well as the Client’s other service expenses (taxes, duties, etc).
  • Calculated on monthly basis against nominal value of the securities (except for securities admitted to purchase and sale on the regulated market of the RA) remained on the account at the end of each month.
  • Calculated on monthly bases against the total amount of securities available in the account (based on daily balance of the securities).
  • The volume of investment tools is limited by the tools offered by the Bank's partners. Tariffs do not include commissions charged by other organizations (trading systems, foreign depositories, depositor and register services, etc.), as well as other expenses of the Client (taxes, duties, etc.). In case of limitation by the Bank’s partners of the minimum quantity/volume limits of securities purchased/sold within 1 order, then the limitations are to be applied to the Client order as well. Due to the brokerage operations, if necessary, the Client’s funds are to be converted to other currencies at the rates set by the Bank's partners.
  • Tariffs are defined for a share (a depository receipt) by the exchange rate of USD to AMD.
  • Tariffs are defined for a share (a depository receipt) by the exchange rate of CAD to AMD.
Communication with Clients

Communication between Client and the Bank is carried out by hard copies of the documents or electronic means of communications (fax or e-mail).

Agreement Term and Return of Client’s Funds upon the Agreement Cancellation

• Depository Agreement comes into force starting from the date of signing it and is valid for an indefinite period.

• In case of termination of the Agreement, upon the Client’s order the depo account balance will be transited to the Client’s another depo account possessed with another sub-depository within the day of submitting the order, and the depo account of the Client will be closed.

Conflict of Interests Prevention Policy

When executing the Client’s orders, the Bank performs by following the principles of unbiasedness and punctuality, and is sure to inform the Clients on transactions with their securities and funds.

Aimed to protect the Client’s interests, the authorized specialists of the Bank are obliged:

• To provide the RA legislation and the Bank’s internal legal acts regulating Investment Market.
• To put the interests of the Bank and its Clients ahead of their own interests and avoid entering into deals which could have negative impact to the Client and/or Bank’s interests.
• To ensure the protection of investors (Clients, partners and other market players).
• Within the scope of their power, to inform the direct managers on the possible violations of the RA legislation and the Bank’s internal legal acts, as well as other transactions of which the Bank can be considered as an interested party.

Required document for getting use of investment services:

• Documents required for account opening.

• Information on knowledge and experience of security market.

ATTENTION: Clients are responsible for risks occurred in the course of taking advantage of investment services offered by the Bank. The Bank will not refund the losses of the Client, if they are not caused as a result of the Bank’s inaction or unfair attitude. Investment services are provided at the Bank’s

Stepanakert Central Branch
25, Knunyantsneri Str., Stepanakert 375000
Phone: +374 47 943334
E-mail: [email protected]