Prometey Bank rebranding in Evocabank - Evolution on the Way to a New Reality

ArmInfo. From October 1,  Prometey Bank will operate under a new name in the banking market of  Armenia - Evocabank is a rebranding under the slogan "On the way to a  new reality". The Chairman of the Board of Prometheus Bank Emil  Soghomonyan and the sole owner of the bank, the founder of  Zakneftegazstroy-Prometey and Prometei City Vazgen Gevorgyan  announced this on September 15 at a festive evening accompanied by  the appearance of the face of the image advertising company of the  Eurovision Song Contest-2016 Ivetta Mukuchyan and culminating  firework.

The renaming of the Bank implies the transfer of banking operations  to the modern technological platform of mobile banking. The  preparatory stage was started last year, when in June Prometey Bank  presented the mobile application Prometey Mobile, which allows to  carry out banking operations through smartphones and tablets, and to  monitor and manage accounts 24 hours a day from anywhere in the  world. The intention of the rebranding was dictated by the  development of a new application - Evocatouch.

Emel Soghomonyan, Chairman of the Board of Prometheus Bank, opened  this memorable evening with the opening speech: "As the first  registered commercial bank in Armenia and for more than 27 years of  activity, we have consistently recorded high financial results and  ensured stable growth of all key indicators. and knowledge, observing  world trends and having our own forecasts about the future, we have  chosen a new way of development of the Bank. " Then he gave the floor  to the permanent shareholder Vazgen Gevorgyan, who briefly introduced  the new development strategy of Prometey Bank, which is based on the  transfer of banking operations to a modern technology platform for  mobile banking.

With renaming, the bank's strategy, style of work and business model  change. We change attitudes, thinking, worldview. In other words, we  are striving to get out of the traditional concepts of banking, and  henceforth to conduct business in the format of Mobile First, meaning  when developing a product, we put the cornerstone of ensuring the  maximum usability of this format. First of all, all our services will  be transferred to quick, easy and convenient use by mobile devices,  and this is just the beginning - we are not going to limit ourselves  to just providing financial services. This process is not interrupted  and is of a continuing nature. We have all the prerequisites for the  development of the Bank in the direction outlined:  first, we have  sufficient capital exceeding the normative level; secondly, we are  taking concrete serious steps to transfer banking services to the  digital technologies platform; thirdly, the professional team of the  bank clearly knows what and how to do to ensure the maximum  convenience of the services provided, and most importantly - it is  trust in the bank, for the preservation and enhancement of which we  do our best.  The new name of the bank laid the root of the word  evolution and there is a resemblance to the English word meaning  willingness, said the owner of the Bank Vazgen Gevorgyan, turning to  the audience with a question: "Are you ready for a new reality?"

Deputy Chairman of the Board of Prometey  Bank Karen Yeghiazaryan, in  a conversation with ArmInfo correspondent, added that the Bank is in  the process of renaming and since October 1 it will carry out its  activity under the name of Evokabank. "Regarding mobile banking, I  will say that first of all in this format there will be such services  as opening of accounts, application for a card, replenishment of  deposits, opening of a deposit account, and then state agencies, with  whose activities some banking products are connected, will be  gradually added to the application. Evocatouch is universal - it can  be used by both individuals and legal entities, from different  devices and at any time, "Yeghiazaryan explained.

According to the Financial Rating of the Armenian Banks as of July 1,  2017, prepared by ArmInfo News Agency, Prometey Bank has been  operating in the financial market of Armenia since 1990. The  shareholders of the Bank are OAO Zakneftegazstroy-Prometey - 37%,  Prometey-City (Russia) - 59.87% and Vazgen Gevorgyan (RF) -3,13%,  which is the founder of the two companies. The total capital of the  bank as of July 1, 2017 was 30.2 billion AMD ($ 62.8 million, with an  annual growth of 22.2%), the regulatory total capital - 32.7 billion  AMD ($ 68 million, with an annual growth of 44.1%), and the adequacy  ratio capital rose in the annual section from 33.3% to 35% (with the  required min 12%). The bank's assets grew by 18.7% year on year,  reaching 97.3 billion AMD ($ 202.5 million), in the structure of  which about 54% or 52.1 billion AMD accounted for credit investments,  which increased by 21.2% for the year due to corporate lending growth  31.6% and retail - by 15.6%. The Bank's liabilities grew by 17.2% in  annual terms, to 67.1 bln AMD, in the structure of which term  deposits (mainly natural persons) account for more than 42%, with an  annual growth of the absolute value of 28%. The first half of 2017  the bank completed with a net profit of $ 1.8 million, ensuring an  annual growth of 2.3 times. In terms of profitability of assets and  profitability of capital, the bank holds leading positions: ROA is  included in TOP-3 with a rate of 1.9%, and ROE - in TOP-7 - 5.88%.  (The calculated exchange rate of the AMD as of June 30, 2017 is  480.47 dr / $ 1).