INECOBANK CJSC

Inecobank CJSC was established in 1996 and since then became leading Armenian bank for individual customers and customers, representing Micro and SME businesses; the bank provides its services to more than 300.000 individuals and more than 10.000 business customers.  

The bank is the first bank in the country, which introduced POS lending service, promoting development of consumer goods' market. The bank is #1 in Armenia by return on equity (ROE, 2015).  

The bank is leading bank in the Republic of Armenia by number of international investors attracted (more than 30).

International financial institutions like the EBRD, the IFC and the DEG are among largest shareholders of the Bank. In 2015 Inecobank CJSC purchased 100% of ProCredit Bank CJSC shares. The Bank has 23 branches. Nine branches are placed in regions:  Gyumri, Vanadzor, Lori, Hrazdan, Armavir, Armavir 2, Abovyan, Ashtarak, Artashat and fourteen are in Yerevan Central operational unit, 18 Abovyan, Arabkir, Malatia, Nor Nork, Shengavit, Shengavit 2, Mashtots, Ajapnyak, Komitas, Tigran Mets, Koryun, Khorenatsi and Zeytun.

Achievements of INECOBANK 

• 2001 – was distinguished as the best dealer in the RA domestic state debt management market by the RA Ministry of Finance and Economy and Central Bank of Armenia
• 2004 – According to the analysis of popular “The Banker” magazine, INECOBANK has been included in the list of 20 fastest growing banks in the Central Europe and CIS countries thus ranking the 1st place amongst Armenian banks
• 2005 – “ArmInfo” news agency recognized INECOBANK to be the winner of “Corporate Governance” and “Consumer Lending” nominations 
• 2007 – has been recognized to be the most active bank in the sphere of trade finance in Armenia by the European Bank of Reconstruction and Development (EBRD) 
• 2008 – according to the analysis performed by “MIX (Microfinance Exchange) 2008” INECOBANK CJSC ranked the 36th place among 100 best microfinance organizations of developing countries 
• 2008 – the Bank has complied its activity with international standards of “ISO 9001” quality management system 
• 2009 – INECOBANK has been recognized as the most active issuing bank by the European Bank of Reconstruction and Development (EBRD) within the scope of trade finance project 
• 2010 – INECOBANK acquired a reward by German “Commerzbank” for excellent cooperation in the sphere of trade finance.