Joint Offer from INECOBANK, ARAY and Technolife - 15% Return of Non-Cash Payment to Cardholders

INECOBANK, along with ARAY and Technolife electronic- device stores have launched a joint offer - 15% of non-cash payment is to be returned to cardholders.

The bank press-office has informed ArmInfo that within the offer INECOBANK cardholders, who make non-cash purchases in ARAY and Technolife stores until Aug 31, will receive 15% of the paid sum.  Since the returned sum is considered customer income, it will be imposed taxes on in accordance with the law on "Income Tax". The sum is transferred to the cardholder's bank account within 5 working days since the purchase moment.

More info can be found on the websites www.inecobank.am, www.aray.am, www.technolife.am or through telephone enquiry - (010) 510-510

Both Aray and Technolife hone in on electronic devices.  "Aray" company is coeval with the third Republic of Armenia. Founded in historical 1988, the company which shares with the young Republic the difficulties typical of the time, passed its own way from establishment to success. The concept of business philosophy laid in the basis of the company activities by the founder Ara Petrosyan proved its relevance and ability to keep leading positions in competing market in the course of time. 

Today, besides Armenia, "Aray" company is represented in the United Arab Emirates and Georgia, whereas businesswise, it ranges from South Korea to Europe. Only in Armenia the company has 8 modern trading halls, out of which 6 in Yerevan, one in Gyumri and one in Vanadzor.  One of the trading halls in Yerevan is specialized in distributing and selling products of LG trademark. The chain tends to increase. 

The direct business partnership with leading producers of audio-video equipment and household appliances of leading and famous trademarks enables us to offer our consumers the most advanced and modern models at the lowest prices, obviously, within the frames of price-quality ratio. We are officially registered partners with LG, Smeg, Apple, Electrolux, Zanussi, AEG, Vestel, Delonghi, Faber,  Supra, Hama, Scarlett, Carrera, Babyliss, Cuisinart, Gefest, Polaris, Unold, Graef,  Carino  trademarks. And this is not the complete list.

According to the Financial Rating of "Armenian Banks in card business " by the Agency of Rating Marketing Information (ArmInfo), INECOBANK issues and services local ArCa cards, as well as international Visa and MasterCard ones. As of Apr 1, 2015, the number of the bank's active cards totaled 78 thsd with 36 thsd ArCa, more than 26 thsd - MasterCard and about 16 thsd - Visa cards. The number of active cards of the bank increased by 42% yoy. Due to this the bank retains its position in the TOP-10. In 2014 the bank increased the volume of plastic transactions by 27% - about 40 bln AMD. The main growth was provided through ATM transactions - 63% share of plastic transactions. INECOBANK offers its clients interesting products:  Priority Card with a number of VIP advantages for those who love traveling, "Autocard" insurance cards, etc. The bank has about 33 ATM machines and 1116 own POS-terminals. The bank retains its position in the TOP-3 by the number of POS-terminals. 

To note, "Inecobank" CJSC, founded in 1996, is one of the fastest growing banks on the Armenian market.  The aim of the bank is to act as a reliable and honest partner-consultant for its clients and contribute to the development of private sector. Inecobank's majority stockholders are  - CEO Avetis Baloyan with a share of 35.23%, Karen Safaryan (30.34%) - KfW banking group member - Deutsche Investitions-und Entwicklunsgesellschaft mbH (DEG - 12.58%) and International Finance Corporation (9.32%).

As of Apr 1, 2015 the total capital of the bank made 27.1 bln AMD, assets - 150.3 bln AMD, loan investments - 104.7 bln AMD, general obligations - 123.2 bln AMD - 40.6 bln AMD for clients (79% - individuals). The bank finished Q1 with 1.010-bln-AMD-profit and by this came third and first  - by efficiency ration (ROA and ROE).