Thursday, June 12 2014 16:13

Inecobank Becomes Account Operator of Funded Pension System in Armenia


ArmInfo. "Inecobank" cjsc was granted the status of Account operator of funded pension system. As an account operator Inecobank, starting from June 2, 2014, it services funded pension system participants, intermediating the services, provided by the Central Depostory of Armenia (CDA) to the participants.

According to NASDAQ OMX Armenia, "Inecobank" cjsc joined the list of 7 account operators of funded pension system, currently operating in Armenia, including "Haypost" cjsc and 6 banks: "ARARATBANK" ojsc, "ARMBUSINESSBANK" cjsc, "Ardshininvestbank" cjsc, "Converse Bank" cjsc, "HSBC Bank Armenia" cjsc, "VTB BANK (Armenia)" cjsc.

Funded pension system participants may refer to mentioned account operators and "My Account" application for managing their pension accounts, particularly sumbit application for selection of the fund and fund manager and other applications, as well as receive information and statements on operations with their pension account. Any company, complying with the requirements, defined by the RA Government decision N 1021-N dated August 16, 2012, is eligible for obtaining the status of pension account operator.

The list, contact details as well as information servicing branches of Account operators is available on "Pension account operators" page (http://nasdaqomx.am/en/pension_account_operators.htm) of NASDAQ OMX Armenia official web-site (www.nasdaqomx.am).

Established in 1996, Inecobank CJSC is a dynamically developing bank offering universal services in the financial services market in Armenia. Its goal is to promote private sector development – acting as a reliable and loyal partner and consultant for micro, small and medium business and individuals. As of 31 December 2013 the bank held USD 320 million in assets, and USD 213 million in gross loan portfolio. The number of customers of the Bank by the end of 2013 made up almost 205,000. The Bank has 16 branches and one representation across the country.

NASDAQ OMX (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents. Through its diverse portfolio of solutions, NASDAQ OMX enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 80 marketplaces in 50 countries, and approximately 1 in 10 of the world's securities transactions. NASDAQ OMX is home to more than 3,200 listed companies with a market value of over $8 trillion and more than 10,000 corporate clients. To learn more, visit www.nasdaqomx.com.

In January 2008, Nordic exchange operator OMX Group acquired 100% of the shares of the Armenian Stock Exchange (Armex) and the Central Depository of Armenia (CDA). After the combination of NASDAQ and OMX in February 2008, Armex and CDA became fully owned by the NASDAQ OMX Group, Inc. On January 26, 2009, "Armenian Stock Exchange" ojsc was officially renamed as "NASDAQ OMX Armenia" ojsc. On June 5, 2009, "NASDAQ OMX Armenia" ojsc became the owner of 100% of the shares of the "Central Depository of Armenia" ojsc.
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