Change in the Executive Management of Converse Bank

Converse Bank CJSC announces that Mr. Andranik Grigoryan will step down from his position as Chief Executive Officer of the Bank effective March 31, at his own request.

The Board of Directors expresses its sincere appreciation to Mr. Grigoryan for his leadership of Converse Bank and for his significant contribution to the Bank’s development.

Marcelo Wende, Chairman of the Board of Directors of Converse Bank, commented:

"We express our gratitude to Andranik Grigoryan for his leadership and his important contribution to the development of the Bank. During his tenure, Converse Bank strengthened its position in the Armenian financial system, continued to develop its business relationships, advanced the Bank’s technological transformation, and expanded its product offering aimed at supporting its clients and the economy of the Republic of Armenia. In this process, particular emphasis was placed on the development of digital products and services. We wish Andranik Grigoryan every success in his future initiatives."

To ensure continuity of management, the Board of Directors has appointed Mr. Grant Akopian, currently Deputy Chief Executive Officer and Chief Financial Officer of Converse Bank, as Acting Chief Executive Officer of the Bank. The appointment will become effective on April 1.

The Chairman added:

"Over the past ten years, Grant Akopian has been one of the key members of the Bank’s leadership team. With his appointment, the Board aims to ensure continuity of leadership and the consistent implementation of the Bank’s development strategy."

About Converse Bank

Converse Bank CJSC is a universal bank operating in Armenia and providing a wide range of banking services to individuals, small and medium-sized enterprises, as well as corporate clients.