Armenia's Deputy Prime Minister Mher Grigoryan bought bonds worth half a million dollars from Ardshinbank in December 2023.

What is interesting about this transaction is that in 2022, Grigoryan sold his 1.000056% shares in Ardshinbank for more than two million dollars.

Grigoryan served as Ardshinbank board chairman from 2011-2018.

After being appointed deputy prime minister, according to the law, Grigoryan left his administrative position in the bank but kept the shares until 2022.  

Grigoryan sold his shares to Arins Group LLC, which now owns 98.6% of Ardshinbank. The owner of Arins Group is Ardshinbank board chairman Karen Safaryan.

Grigoryan declared 4.6 million drams in a bank account seventy million drams in cash, and revenues of thirty million drams, of which 24 million is his salary as deputy prime minister.

Photo: Armenian Government Press Service