INECOBANK

INECOBANK CJSC was registered on February 7, 1996 (bank license N 68 issued by the Central Bank of Armenia). 

INECOBANK CJSC renders universal bank services both for physical entities and corporate customers the number of which as of March 31, 2012 amounted to accordingly 170 164 and 6292. 

Our managers and employees are followed by the understanding of social responsibility towards society and willingness to contribute to the process of poverty reduction in our country. It is proved by the fact that the Bank shows active participation in multiple target projects of small and medium as well as micro enterprises lending offered by international banks and organizations thus contributing to the development of economy and establishment of new employment opportunities. Besides, in the upcoming years the Bank plans to expand the volume of funds allocated in this field in total loan portfolio.

Our readiness to contribute to the enhancement of social status in the country is also reflected in providing the most favorable conditions for making purchase of miscellaneous goods on credit as well as constant development of that service and improvement of service quality. 

The Bank has 15 branches  and one representation in Charentsavan city. 

Seven branches are placed in marzes - Gyumri, Vanadzor, Lori, Hrazdan, Armavir, Abovyan, Ashtarak and 8 are in Yerevan: Central operational unit, 18 Abovyan, Arabkir, Malatia, Nor Nork, Shengavit, Tigran Mets and Koryun 

The auditor of the Bank is Grand Thornton audit company. 

INECOBANK CJSC has established correspondent relations with a series of leading banks, while it has been cooperating with different international finance organizations since 1998 the number of which makes up 20. 

INECOBANK is: 

• the first bank to propose the project on lending point of sale (on credit) purchase in Armenia,
• member of SWIFT international payment system, 
• member of a series of international money transfer systems like "Money Gram", "CONTACT", "Inter Express", "Blizko", "Bistraya pochta" and "Unistream" systems,
• full-fledged member and shareholder of ArCa payment system,
• an affiliated member of MasterCard international payment system,
• member of NASDAQ OMX Armenia stock exchange,
• first bank in Armenia which has introduced the service of performing operations on the international financial markets (FOREX) 

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.