Monday, August 26 2013 16:34
Commerzbank AG gives an award to INECOBANK for high quality of international payments
ArmInfo. Commerzbank AG (Germany) has given an award to INECOBANK for the high quality of international payments made via Commerzbank AG in 2012.
The press service of INECOBANK has told ArmInfo that 98% of the transfers made via Commerzbank AG meet the STP international standards.
To note, 35.23% of INECOBANK's shares belong to Chairman of the INECOBANK Board Avetis Baloyan, 30.34% - to Karen Safaryan, 12.58% - to Deutsche Investitions-und Entwicklunsgesellschaft mbH (DEG), member of the KfW Group, and 9.32% - to the IFC. The Bank has 16 branches, 7 of them in Yerevan and 9 in the regions. As of 30 June 2013, the total capital of the Bank was $49.9 mln, assets - $257 mln, lending - $206.6 mln (over 80% of the assets). Over the first half of 2013, the Bank's net profit was $5.7 mln (up 40% versus the first half of 2012). In 2012 the net profit of the Bank amounted to $9.1 mln (up 40.5% versus 2011).