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On May 19, Byblos Bank Armenia and Yerevan State University signed a memorandum of cooperation to establish a framework for the Bank to provide scholarships and tuition reimbursement to 15 high-achieving students.

The project is being implemented as part of a series of events celebrating the 15th anniversary of the Bank, with the university-employer partnership and cooperation on projects of common interest at the heart of it.

In particular, during the 2023-2024 academic year, 10 students in the 3rd and 4th years of their bachelor's program and those working on their master's degrees at the YSU Faculty of Economics and Management, as well as related disciplines, will receive a nominal scholarship of AMD 1 million each, while five others will get tuition reimbursement. In addition, five of those students will be involved in a practicum program at Byblos Bank Armenia, with the possibility of enrolling with the Company in the future. Throughout the following years, too, the Bank will provide scholarships to at least 5 students of the YSU Faculty of Economics and Management.

The memorandum was signed by Chief Executive Officer at Byblos Bank Armenia Hayk Stepanyan, YSU Rector Hovhannes Hovhannisyan and Dean of the Faculty of Economics and Management Hayk Sargsyan. The partnership seeks to support, promote and implement programs aimed at enhancing the students' competencies and practical skills, as well as helping them stand out in a competitive job market.
According to Byblos Bank Armenia CEO Hayk Stepanyan, the Bank attaches great importance to the development of education in Armenia.

"The purpose of this cooperation with YSU is to provide young people with the necessary knowledge and skills to build their careers in the financial and banking system. We look forward to seeing great results coming from this collaboration and hope to welcome YSU graduates in our ever-growing pool of talent in the future," said Hayk Stepanyan.

YSU rector Hovhannes Hovhannisyan noted the importance of the cooperation and the opportunities that come with it, and said that the effective connection between the university and the labor market is one of the guarantees for the development of education.

"This form of cooperation, in which businesses get involved in the educational process and contribute to the preparation of qualified, professional personnel, is one of the best manifestations of communication that one can imagine. It is noteworthy that scholarships to be provided by our partners will not only serve as financial aid, but will also encourage our students to do better and achieve success," Hovhannes Hovhannisyan noted.

Present at the signing ceremony were students and Bank and YSU employees in addition to a number of university officials and guests. The students participated in a Q&A session on the spot and discussed industry trends with the Bank's employees and the managing staff.
The sides agreed on the organization of joint projects and the Bank's participation in university events, the involvement of the teaching staff and students in studies and other activities initiated by the Bank, as well as the implementation of joint research projects on issues related to the financial and banking sector.

Byblos Bank Armenia CJSC is celebrating its 15th anniversary this year and will introduce a number of proposals and initiatives throughout the year.

Byblos Bank Armenia CJSC was founded and opened the doors of its first branch in 2007. Today, the Bank has four branches in Yerevan where customers can use various banking services and receive financial advice. The Bank provides its customers corporate-retail banking services that meet the highest international standards.