InecoBank

Last updated
Inecobank CJSC
Company type CJSC
Industry Banking, financial services
FoundedFebruary 7, 1996
Headquarters Yerevan,
Number of locations
26 branches (2017 [1] )
Key people
Hayk Voskanyan (CEO)
Avetis Baloyan (Founder)
Products Credit cards
Consumer banking
Corporate banking
Digital banking
Increase2.svg 7,024 mln AMD (2017) [1]
5,157 mln AMD 2016 [1]
Total assets
Total equity
Number of employees
950 (2017 [1] )
Website www.inecobank.am

INECOBANK is one of the leading South Caucasus banks, headquartered in Yerevan, Armenia. The bank offers a full range of banking services, including digital banking services to individuals, SME and corporate clients. [2] The bank was founded on February 7, 1996 licensed by CBA General banking license No. 85). [3]

Contents

Starting from 1998, the bank has been cooperating with over 30 international financial organizations, and has established nostro-correspondent relations with a number of leading international banks.

The bank has two major shareholders - Avetis Baloyan (30% of shares) and Karen Safaryan (25.92% of shares). In 2015, European Bank of Reconstruction and Development became a shareholder of Inecobank, acquiring 22.7% of shares and in 2018 agRIF cooperatief became a shareholder acquiring 10% of shares from IFC and DEG in a private transaction. [4] [5] [2]

In October 2019, Inecobank appointed Hayk Voskanyan as the company Chief Executive Officer. [6]

History

The history of Inecobank dates back to 1996, when two Armenian businessmen Avetis Baloyan and Karen Safaryan along with other Armenian partners founded the bank․ The total capital of the bank as of FY 2018 is more than USD 100mln. [7]

The bank has delivered a number of industry leading digital banking solutions[ buzzword ], some which are presented below:

See also

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References

  1. 1 2 3 4 5 6 7 8 KPMG (February 2018). "Armenian Banking Sector:2017 4th Quarter Results" (PDF). KPMG. Retrieved 27 June 2018.
  2. 1 2 3 4 "ENABLING A STELLAR 300% GROWTH IN ONLINE TRANSACTIONS". SFL Pro.com. Retrieved 21 January 2019.
  3. Inecobank - About Inecobank , retrieved 25 April 2018
  4. "agRIF acquires IFC and DEG shares in Inecobank Armenia". Incofin. 22 April 2018. Retrieved 21 January 2019.
  5. "LEGELATA ADVISES AGRIF COOPERATIEF U.A OF THE NETHERLANDS IN ACQUISITION OF STAKE IN INECOBANK CJSC". The Legal 500. June 2018. Retrieved 21 January 2019.
  6. "Inecobank has a new CEO". armenpress.am. Retrieved 2019-11-13.
  7. "Inecobank Financial Report 2018 4th Quarter" (PDF). 31 December 2018.
  8. "Inecobank introduces new update". Banks.am. Retrieved 2019-11-13.
  9. "INECOBANK – THE FIRST FULLY DIGITAL BANK IN ARMENIA". Georgia Today. 23 October 2018.
  10. "Inecobank launches contactless mobile payment system InecoPay". telecompaper. 5 October 2018.
  11. "Ինեկոբանկը ներդրել է 1 CLICK նոր վարկատեսակը" (in Armenian). MEDIAMAX. 20 November 2017.
  12. "Ինեկոբանկ. 1 Click օնլայն վարկ՝ արդեն մինչև 2.5 մլն դրամ". B24 (in Armenian). 5 April 2018. Retrieved 24 January 2019.