On March 17, 2024, content was published on the publicly available platform under the caption 'Chibukhchyan Live' about 'Ardshinbank' CJSC and its chairman of the board, Mr. Karen Safaryan. The content contains slanderous, false information, and defamation of honor, dignity, and business reputation.
Regarding the aforementioned publication, 'Ardshinbank' CJSC and the chairman of the board have taken measures to restore the violated rights in accordance with the law.
At the same time, ‘Ardshinbank’ CJSC, as a transparent, accountable, ethical bank, on the one hand, and Mr. Karen Safaryan, as a responsible RA citizen, on the other hand, consider it important to issue a disclaimer regarding the defamation through public communication.
We affirm that 'Ardshinbank' CJSC complies with all regulations applicable to RA banks and banking activities, including those set by the RA Central Bank. The bank strictly adheres to comprehensive regulations governing bank conduct, bank secrecy, and compliance checks, including international restrictions applied by foreign partner organizations. 'Ardshinbank' CJSC and the board of the bank, represented by the chairman of the board, operate exclusively within these regulations. We strongly urge refraining from disseminating any erroneous information and making frivolous judgments about the system.
We clarify that the chairman of the board of 'Ardshinbank' CJSC, Mr. Karen Safaryan, was born in 1963 in Baku, Azerbaijan SSR. Like many Armenians during the Soviet Union era, Karen Safaryan also studied in Baku, graduating from the Polytechnic Institute in 1985. Following the tragic events in 1989, Mr. Safaryan's family moved to Armenia. Until 1995, he worked as an engineer in various industrial factories in Armenia. Subsequently, he relocated to the Russian Federation, where he engaged in business activities. By the early 2000s, he had established several businesses both in Russia and Armenia. In 2003, among other businesses, Mr. Safaryan founded 'Ardshinbank'.
Mr. Karen Safaryan has been the founder, owner, or minority shareholder of various companies over the years. None of Mr. Safaryan's businesses in Armenia have ever operated in Russia, and concurrently, his Russian businesses have never operated in the Armenian markets. Furthermore, over the past decade, he has divested assets in Russia due to changing business priorities. Throughout his career, he has never been involved in any sort of activities concerning ammunition.
Until 2019, Mr. Safaryan was a resident taxpayer in both the Russian Federation and the Republic of Armenia. However, since 2019, he has been a resident taxpayer and currently does business solely in the Republic of Armenia. 'Ardshinbank' constitutes his primary business asset, while 'Armenia' insurance company and several investment funds operate under his holding company in Armenia.
Mr. Safaryan's biography is publicly available on our official website, hence, attempts to sensationalize through dubious connections will be considered distortions of facts, leading to appropriate legal consequences. This includes cases where several companies are inaccurately portrayed as under Mr. Safaryan's control, despite any links being over 30 years old, or where companies are erroneously claimed to be owned by Mr. Safaryan when they have never been associated with him.
It is pertinent to note that Mr. Karen Safaryan has never engaged in politics, neither in Russia nor in Armenia. As a businessman, his public activities are limited to the corporate social responsibility programs of 'Ardshinbank'.
We duly note the recurrent publication of defamatory information and disparaging remarks targeting the reputation of 'Ardshinbank' CJSC and its chairman of the board on the mentioned platform. 'Ardshinbank' CJSC reiterates its steadfast commitment to pursue all necessary legal avenues to address and rectify these injurious actions.
We also record that slander and offensive expressions have been repeatedly published on the mentioned platform defaming the good reputation of 'Ardshinbank' CJSC and the bank’s chairman of the board. In all cases, 'Ardshinbank' CJSC will be consistent in ensuring that these actions receive proper legal recognition.
'Ardshinbank' CJSC
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