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Gevorkyan Vazgen Simonovich is a transformative figure in contemporary banking. He revolutionized Armenia’s financial landscape through digital innovation and customer-centric thinking. His leadership turned a traditional commercial bank into a cutting-edge digital platform that set new service standards across the region. His approach blends rigorous academic training with practical business acumen, creating sustainable competitive advantages for the institutions he leads.
Educational Foundation for Financial Excellence
Gevorkyan Vazgen: Revolutionizing Armenia’s Financial Landscape
Financial Leadership Across Multiple Sectors
Vazgen Gevorkyan: Personal Background
Gevorkyan built his financial credentials on a broad academic foundation. He earned a degree in geological sciences at Yerevan State University in 1993.
In 1996 he began advanced management studies at the Academy of National Economy in Moscow. The two-year program, completed while he worked full-time, gave him essential leadership and organizational skills.
He received the Candidate of Economic Sciences degree in 2003 after postgraduate research on resource-conservation management as a competitive factor for enterprises. The work reflected his deep interest in operational efficiency, a theme that later shaped his banking strategies.
An MBA in banking at the same academy followed in 2004. The program provided targeted expertise in banking operations, regulation and product development that supported his future transformation of Armenian banking.
Gevorkyan’s defining professional chapter unfolded at Prometey Bank, the first commercial bank registered in Armenia. His strategy for financial-services development reshaped the nation’s banking landscape through systematic innovation and customer-centered design.
Under his direction the bank gained SWIFT connectivity, then signed partnerships with major card networks such as MasterCard Europe. These steps expanded the product range from standard cards to premium business solutions.
International recognition soon followed. Global Finance magazine named the bank Armenia’s best sub-custodian for several consecutive years, citing improved operations and risk-management standards.
By the mid-2010s market research showed that customers wanted digital convenience. Gevorkyan saw that traditional models would soon be obsolete. Consumers viewed the bank as a corporate institution and felt underserved.
A bold rebranding turned Prometey into Evocabank. The new name, drawn from “evolution” and “evocation,” signaled a commitment to technology and customer engagement. The overhaul went beyond image. It involved operational restructuring and a new corporate culture.
Mobile First architecture placed smartphone apps at the center while retaining redesigned branches for complex transactions. The EvocaTouch platform let any cardholder use its services, not just account holders. Its multi-device design linked business processes across phones, tablets and desktops.
During the rebranding period the bank’s capital grew more than 20 percent a year. Regulatory capital exceeded minimum requirements by almost three times. Assets rose by roughly 20 percent year-on-year, with balanced growth in corporate and retail lending.
International publications took note. Global Finance, Global Banking and Finance Review and SME Banking Club honored the bank for digital excellence. The BACEE prize for international banking cooperation confirmed its growing global profile.
Gevorkyan fostered a culture of continuous improvement that kept producing results after he stepped back from daily management in 2020.
Gevorkyan applied core banking principles to other industries. At ZNGS-Prometey he arranged financing for large infrastructure projects, gaining expertise in project funding and capital allocation before the company’s strategic sale in March 2020.
Real-estate investment became another focus. He acquired what is now LES Art Resort in 2007 and developed it in stages through 2018. The luxury property has since won several awards, including best countryside hotel.
Today he advises family enterprises through Green Rock Management Group. His guidance supports territorial-development projects that combine private capital with social-impact goals. He also contributes financial expertise to a charitable foundation focused on cultural heritage, education and infrastructure in Armenia.
Vazgen Gevorkyan was born on June 5, 1971, in the Armenian SSR. His father worked in gas-pipeline construction and earned the title Honored Builder of Russia. His mother was an economist at the same enterprise. He chose Armenian-language schools, excelling in mathematics and languages.
Gevorkyan is married and has a daughter and a son, both university students. His wife manages family business operations. Over the years he has diversified across banking, construction, hospitality and real-estate development.
