Monday, January 29 2018 13:30
Karine Melikyan

INECOBANK confidently progresses to the leaders

INECOBANK confidently progresses to the leaders

ArmInfo. INECOBANK increased  net profit for the year of 2017 by 36.2% to 7.02 billion AMD ($ 14.5  million), having moved up from the 3rd to the 2nd position.

According to the Express-Ranking of Armenian Banks, prepared by IC  ArmInfo on the basis of published financial statements of the bank,  Inecobank increased assets for 2017 by 17.6%, total liabilities by  19.1%, total capital by 11%. In the structure of assets, the Bank  increased credit investments and other loans by 8.1%, investments in  securities - by 87.6%, while increasing in liabilities time deposits  and demand deposits - by 27.5% and funds raised from banks and other  financial organizations - by 65.3%.

According to the main financial indicators, INECOBANK is included in  the TOP-5 Armenian banks, with the 4th capital in terms of total  capital, in terms of assets and liabilities - the 5th, in investments  in securities - the 3rd, in terms of credit investments - the 5th.

As of January 1, 2018, the assets of INECOBANK amounted to 277.8  billion AMD ($ 573.9 million), credit investments and other loans -  173.1 billion AMD ($ 357.5 million), investments in securities - 43.7  billion AMD ($ 89.8 million), total liabilities - 229.6 billion ($  474.3 million), term deposits and demand deposits - 140.8 billion AMD  ($ 290.8 million), and funds raised from banks and other financial  organizations - 83.8 billion AMD ($ 173.1 million).

In the structure of the total capital of INECOBANK, the share of the  authorized capital is 46.2%, and the accumulated profit is 39.9%. In  2017, INECOBANK did not increase its authorized capital - 22.3  billion AMD ($ 46.1 million), while increasing the accumulated profit  by 26.6% to 19.3 billion AMD ($ 39.8 million), which formed the total  capital at the level of 48.2 billion AMD ($ 99.7 million). The  regulatory total capital of the bank as of January 1, 2018 was 39.7  billion AMD, which is 11.8% higher than the level of the previous  year. The bank's capital adequacy ratio at that date was 14.55% (with  the required 12% min), the total liquidity ratio was 31.52% (with the  required min 15%), the current liquidity ratio was 180.62% (with the  required min 60% ).

The loan portfolio of INECOBANK is diversified by branches of the  economy, but the dominant part is in the sphere of trade (3rd  position), the industrial sector (5th position) and the SME sector  (5th position). In parallel, the bank continues to actively engage in  consumer lending, holding on to the leading five.

INECOBANK has been operating in the Armenian market since October  1996. In December 2016, ProCredit Bank merged with INECOBANK, and  within this process an institutional investor in the person of EBRD  was involved in the capital. Taking into account this, the share  participation of the majority shareholders of Inecobank now looks as  follows: Baloyan Avetis - 27.4%, Safarian Karen - 23.67%, EBRD -  22.7%, member of the banking group KfW - Deutsche Investitions-und  Entwicklunsgesellschaft mbH (DEG) - 9.58%, International Finance  Corporation (IFC) - 7.1%. The branch network of the Bank has 21  subdivisions, out of which 13 are located in Yerevan and 8 - in the  regions of Armenia. 

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Government Bonds

Issue volume

10 billion

Volume of T-bills for placement

200 million

Volume of submitted competitive applications

200 million

Volume of satisfied bids

200 million

Yield at cut-off price

 5.8314%

Maximum yield

 5.8314%

Мinimum yield

 5.8314%

Weighted average yield

 5.8314%

Number of participants

2

The maturity date of T-bills

03.02.2020

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Средневзв. Цена

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  USD

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-

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USD

Цена откр.

482,00

Цена закр.

482,00

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482,00

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