Over
the past 4 years INECOBANK received USD 50mln loans from Symbiotics and
ResponsAbility funds to finance micro business. The Bank's press service has
told ArmInfo that Symbiotics and ResponsAbility have provided INECOBANK with
new credit resources, which will also be spent on micro business
financing.
"The new funds will expand the Bank's
possibilities to finance the private sector of Armenia's economy. We highly value the cooperation with
international structures, which enables us to diversify not only the sources of
loans but also the segments of the loan book. This is one more guarantee of the
Bank's stability", says Aram Baloyan, Deputy CEO of INECOBANK.
By the latest data, in 2014 INECOBANK's loan book grew
by 23.5%, deposit portfolio - by 19.5%, and assets - by 10.8%. The Bank is
cooperating with some 30 international financial institutions, including IFC,
DEG, EBRD, BSTDB, EFSE, OeEB and ADB.
Founded in 1996, INECOBANK CJSC is dynamically
developing in the financial market of Armenia. The Bank contributes to
development of the private sector as a reliable and honest advisory partner for
its customers. The majority shareholders of INECOBANK are Avetis Baloyan, CEO
of the Bank, with a 35.23% stake, Karen Safaryan - 30.34%, Deutsche
Investitions-und Entwicklunsgesellschaft mbH (DEG) - 12.58% and IFC - 9.32%.