Investing.com – Ardshinbank OJSC is exploring a potential initial public offering with London among the venues under consideration, according to reporting from Bloomberg, citing people familiar with the matter. Armenia’s biggest lender has reached out to investment banks as it explores strategic options, including a possible listing.

Plans are still preliminary and there’s no certainty that a transaction will take place, the people said. “An IPO represents a potential natural milestone in the bank’s future strategic development,” a representative for Ardshinbank told Bloomberg in a statement, adding that “for the time being,” the lender would focus on strengthening its position in Armenia and expanding its activities in international markets.

Ardshinbank was founded in 2003 by chairman Karen Safaryan, who is also its majority shareholder. The bank describes itself as Armenia’s largest by both assets and deposits. The lender acquired HSBC Holdings Plc’s (LON:HSBA) local operations in 2024.