Armenian broker Armbrok began closing accounts of Russian clients – Kommersant

Broker Armbrok closes accounts of non-residents due to the requirements of domestic legislation, reports RBC. The accounts of some Russians will also be closed. Yesterday, November 27, some of them received information about account closure by email.

“The decision to close accounts was made by the company’s compliance department after a periodic review.— “Ъ”) and tightening of internal requirements for non-residents of Armenia. Armbrok has always complied and complies with the requirements of higher depositories, and this decision of the company is not related to the additional requirements of our partners. But the closure does not apply to all residents,” said a representative of the investment company.

An Armbrok spokesman also said that the accounts of non-residents who do not apply for funds transfer within the required time frame will be closed. “Service for these clients’ accounts will cease. Accounts will be blocked in all internal systems,” he added.

The day before, November 27, the company sent out notices of forced closure of the account. A photo of the letter was published by the Banksta Telegram channel. According to the letter, clients must provide account details to which the assets will be transferred by December 15.

In 2022, the investment company reported a record profit of 2.5 billion Armenian drams (about 551.2 million rubles at the exchange rate as of November 28, 2023). This is 20 times more than in 2021. The broker attributed this result to an increase in the share of Russian investors. At the end of last year, the broker’s accounts included assets of Russian and Belarusian investors totaling 781.7 million drams (172.4 million rubles).

Alexandra Goroshilova