I had the misfortune of making a transaction at the Fastbank Davtashen branch. Honestly, it felt as if the branch had never moved beyond the level of a pawnshop. To my surprise, no one in the entire branch seemed to know how to process an international SWIFT transfer. I had to guide the employees through the procedure myself, and it still took 1.5 hours just to initiate the transfer. Unfortunately, that was only the beginning. The following day, the money was still on my account. After several calls to the call centre, the funds were finally debited, so I assumed the issue had been resolved. Four days later, the beneficiary still had not received the money. I contacted the bank again to find out what had happened. Only then was I informed that the transfer had been suspended because proof of the source of funds was required. No one from the bank had contacted me to let me know. Had I not called myself, I would still have been waiting without any information. After several attempts to reach the Davtashen branch by phone, one of the employees explained that there had been a problem with my transfer because the employee responsible for it had gone on vacation, and no one else knew the status of the transaction. I was told that I needed to provide proof of the source of funds. When I complained about the unacceptable delay, the employee simply hung up on me. I called the branch again and explained that the money originated from a loan issued by Fastbank itself. I politely asked them to retrieve the loan agreement from their own system and provide it to the relevant department. Do you know what I was told after a long discussion? "I'm not going to look in our system. You have to bring the document yourself. My working hours are over. Bye." I was genuinely shocked. It felt less like speaking to a bank employee and more like dealing with someone being rude on the street. Fastbank, please invest in training your staff and improving your internal processes. This is the 21st century. Customers expect professionalism, communication, and accountability. A bank should operate like a modern financial institution—not like a corner vegetable shop.
Fast Bank
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Bank's exchange rates
Last update: 06 Oct, 20:47
Fast Bank
- EUR402412
- RUB4.154.35
- USD360364
- EUR405.3-0.49% 407.19+0.47%
- RUB4.26-1.60% 4.24-0.61%
- USD361.81-0.20% 362.14+0.09%
Best offers
2.5%
367-550 days
from 100€
2.75%
367-550 days
from 100€
6.75%
367-550 days
from 10 000₽
7%
367-550 days
from 10 000₽
5%
367-550 days
from 100$
13.5% - 16.5%
13% - 13.5%
to 60 000 000֏
from 10%
3.85% - 12.54%
7.3% - 9%
to 27 750 000֏
from 10%
to 14.47%
13.5%
to 200 000 000֏
from 10%
10.56%
10%
to 500 000$
from 10%
10.7% - 13.7%
10% - 13%
to 35 000 000֏
from 1%

Free of charge
150 000֏ / year
No
No
No

The card is completely free
No
No
No

Free of charge
50 000֏ / year
No
No
Passages to business lounges

Free of charge
12 000֏ / year
No
No
No

Free of charge
50 000֏ / year
No
No
No
13.81% - 23.1%
to 20 000 000֏
up to 5 years
17.21% - 17.49%
to 4 000 000֏
up to 5 years
9.4%
to 4 000 000֏
up to 10 years
23.75% - 24%
to 500 000 000֏
up to 5 years
Information about Fast Bank
General information
Full legal name
"Fast Bank" CJSC
Founded
1994
CB of Armenia License
№87
Website
fastbank.amOn the map (81)
Financial Indicators (2025)
Total Assets
AMD 423 billion
Loans and Advances
AMD 341 billion
Equity
AMD 84 billion
Net Profit
AMD 8 billion
Annual Report
OpenBank details
CB of Armenia License
№87
Registration date
09 Nov 2022
Bank code
26200
SWIFT code
FCAOAM22
Chairman
Taron Ganjalyan
About the Bank
Fast Bank is a universal bank in Armenia serving private clients, entrepreneurs, SMEs and corporate clients. The bank provides consumer and mortgage lending, deposits, card and payment services, leasing, investment services and digital banking solutions.
Fast Bank's history dates back to 1994, when the first Fast Credit branch was opened. The organization became a credit institution in 2011 and received a banking license in 2022, becoming Fast Bank. Today, it develops retail and corporate banking, SME financing, investment services and remote banking through FastBank Mobile and Fast Bank Online Banking.
History
1994 — Start of operations
On April 1, 1994, the first Fast Credit LLC branch opened at 37 Abovyan St. in Yerevan and initially operated as a pawnshop.
2011 — Credit organization
On October 14, 2011, Fast Credit Capital UCO CJSC was registered as a credit organization.
2022 — Banking license
On November 9, 2022, Fast Credit received banking license No. 87 from the Central Bank of Armenia and was registered as Fast Bank CJSC.
2025 — Network expansion
In 2025, Fast Bank opened 4 new branches and rebranded 10 existing branches, continuing the expansion and modernization of its service network.
2026 — New management
On August 5, 2026, Taron Ganjalyan was appointed Chief Executive Officer and Chairman of the Directorate of Fast Bank.
Fast Bank business activities and areas of specialization
Activities
Retail banking, consumer lending, mortgage lending, corporate banking, SME financing, deposits, card and payment services, financial leasing, investment services, securities operations.
Key products and services
Target Segments
Private clients, entrepreneurs, SMEs, corporate clients and investors.
Digital Products
FastBank Mobile, Fast Bank Online Banking, AknCard, FastSend
International Affiliation
Fast Bank is not part of an international banking group. The bank's shareholders are Vahe Badalyan and Vigen Badalyan, each holding 50% of the shares. The bank has no indirect significant participants.
Leadership
Taron Ganjalyan
Chief Executive Officer
Taron Ganjalyan took over as head of Fast Bank in August 2026. He has more than 25 years of experience in banking, investment and finance. He previously served for many years as CEO of Netherlands-based LINKS Analytics B.V. and as a fund manager at Shell Asset Management Company B.V. He holds a master's degree in economics and an MBA from London Business School.
Awards
2026 — Excellence in Scaling Payment Solutions - Mastercard
Fast Bank received the Mastercard Excellence in Scaling Payment Solutions award for its work in scaling and digitalizing payment solutions.
Source
Fast Bank online services
Bank branches and ATMs map
Bank reviews
Honest rates for exchanging USD cash and other currencies to Dram. The entrance is a bit hard to find at the side of the cafe and up the stairs. Staff were present, professional & efficient. Reliable when the ATM does not work for withdrawing international currency
The slowest bank in Armenia, they should changed their name to Turtule
Worst bank in Armenia. Naming “Fastbank” while having the slowest bank service in the region is crazy
More like very-very-slow-sleeping-turtle-bank. I’ve been in many banks in Armenia, but that is definitely a record. The cashier was doing everything she could, but the bank system seems to be broken. P. S. Check every bank note they give you, some may be half-destroyed.
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