Rocket Line - now for 60 months: Idram and IDBank

 Friday, May 17 2024 18:45:05
Rocket Line - now for 60 months: Idram and IDBank

ArmInfo.What if we tell you that Rocket Line is now for longer period than you expected? Yes, we do everything possible so that you have the most comfortable conditions for your daily payments.

Central Bank Head: FAO index has stabilized and there are no new  upward trends
 Tuesday, March 14 2023 19:54

ArmInfo.The FAO index has stabilized in recent months and there are no new upward trends.  Chairman of the Central Bank of Armenia Martin Galstyan stated this on March 14 during a press conference.

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Martin Galstyan: Armenia Securities Exchange is currently in process  of forming new board and strategy
 Tuesday, March 14 2023 17:53

ArmInfo.Governorof the Central Bank of the Republic of Armenia Martin Galstyan left the board of the Board of the AMX|Armenia Securities Exchange. He announced this on March 14 during a press conference.

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CBA improves its 2023 GDP growth forecast for Armenia to 5.8%,  indicating construction and services as main drivers
 Tuesday, March 14 2023 17:36

ArmInfo.The Central Bank has improved its forecast for 2023 on GDP growth in Armenia to 5.8% from  the previous 4.6% (against the actual 12.6% growth in 2022).  This was stated on March 14 during a press conference by head of the  Central Bank of the Republic of Armenia Martin Galstyan.

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New Armenia-ADB cooperation strategy under development
 Tuesday, March 14 2023 14:36

ArmInfo. A new cooperation strategy between the Government of Armenia and the Asian Development  Bank (ADB) is under development. This was stated during the meeting of Armenian Deputy Prime Minister Tigran Khachatryan with the ADB  delegation headed by the Director of Armenia Office Director of the Asian Development Bank Paolo Spantigati. 

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AraratBank joins the United Nations Women`s Empowerment Principles Initiative
 Tuesday, March 14 2023 13:56

ArmInfo.AraratBank joined the United Nations WEPs initiative back in September 2022, being the first among Armenian commercial banks that year.

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Armenia`s CB leaves refinancing rate unchanged, 10.75%
 Tuesday, March 14 2023 12:42

ArmInfo. At its March 14 meeting, the Board of the Central Bank of Armenia (CBA) decided to leave the refinancing rate unchanged at 10.75%.

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 State Control Service returned about 121 million drams to budget in  2022
 Monday, March 13 2023 19:09

ArmInfo.Performance report 2022 of the State Supervision Service was presented today to Prime Minister Nikol Pashinyan, the press service of the RA PM reports.

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IDBank - participant of DigiTec Expo
 Friday, March 10 2023 18:37

ArmInfo.From March 10 to March 12, IDBank takes part in the DigiTec Expo exhibition, presenting its products in a joint booth with Idram.

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Armenia increases its share in EDB
 Thursday, March 9 2023 14:34

ArmInfo. On March 9, the Armenian government approved the signing of an agreement with the government of the Russian Federation on the sale and purchase of the Russian Federation's share in the paid-in authorized capital of the Eurasian Development Bank (EDB).

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AraratBank committed to the Sustainable Development Goals of the United Nations
 Wednesday, March 8 2023 11:51

ArmInfo.On 3 March 2023, an event dedicated to the 1st anniversary of AraratBank joining the United Nations Global Compact international initiative was held in the banquet hall of the “Zargatsum” branch of AraratBank.

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Converse Bank has completed the distribution of bonds
 Tuesday, March 7 2023 16:50

ArmInfo.Converse Bank has prematurely completed the placement of his bonds with total amount of 3 billion AMD and 10 milion USD.The bonds will soon be listed on the AMX-Armenia stock Exchange, after which they will be put into circulation on the secondary market.

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EDB forecasts 7.2% inflation in Armenia in 1st quarter, 2023 
 Tuesday, March 7 2023 11:54

ArmInfo.The Eurasian Development Bank (EDB) forecasts 7.2% inflation in Armenia by the end of the 1st quarter of  this year. This February, 8.1% inflation was recorded in Armenia - no change as against this January. 

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ACBA Bank starts primary offering of USD 5 mln AMD 3 bln worth bonds 
 Friday, March 3 2023 17:40

ArmInfo. ACBA Bank has started the primary offering of USD and AMD coupon non- documentary bonds in the amount of USD 5  million and AMD 3 billion. As noted in the message of the Bank, the primary offering of these issues started on March 1, and completion  is scheduled until May 31 inclusive.

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Ameriabank doubles SME portfolio over five years
 Thursday, March 2 2023 21:39

ArmInfo.Ameriabank's SME loan portfolio amounted to AMD 163.6 billionas of December 31, 2022,  representing a double increase over the last five years, the press service of the Bank reports.

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In Jan 2023, Armenia`s gross international reserves fell from their  all-time high. 
 Wednesday, March 1 2023 15:36

ArmInfo. Armenia's gross international reserves (GIR) fell from a historic high of $4.112 billion in December 2022 to $3.689 billion in January 2023. In particular, gross international reserves decreased in January by 10.3% or by $422.6 million (after December's 17% growth or by $594  million). At the same time, the y-o-y dynamics remained in growth, but with a noticeable slowdown in rates from 31% to 18%, i.e. in  absolute terms, last year's growth by $738 million has narrowed this year to $551 million. This is evidenced by the data of the Central  Bank of the Republic of Armenia.

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In 2023, non-cash card transactions reach 40% of  total volume of  plastic transactions
 Tuesday, February 28 2023 22:04

ArmInfo. In Armenia, the total volume of plastic transactions accelerated y-o-y growth from 26.3% in  2021 to 34.7% in 2022, exceeding 4.4 trillion drams or $11.3 billion (including transactions abroad with cards of Armenian issuing banks).  This is evidenced by the data of the Central Bank of the Republic of Armenia, according to which the volume of transactions carried out  abroad with the cards of the issuing banks of Armenia increased 2.1-fold on a y-o-y terms up to 456.5 billion drams or 1.2 billion  dollars (10.3% of the total plastic transactions).

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In Armenia, in 2022, number of POS-terminal users among wholesale and  retail outlets registers multifold increase due to legislative  restriction of cash payments
 Tuesday, February 28 2023 18:29

ArmInfo.In Armenia, the double-digit growth in the number of vPOS-terminals continues, along with regular POS-terminals. In Q4 2022, compared to the same period in 2021, the number of vPOS-terminals increased by 15.7% or 503 units (up to 3703 units), with the 3.8-fold growth of regular POS-terminals by 50537 units, while a year earlier the growth of both vPOS-terminals and regular POS-terminals was almost the same - 30.1% and 41 .1% respectively.

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Fitch 2023 Forecast: Armenia`s public debt to fall to 47.3% of GDP  while economic growth slows to 6.1%
 Tuesday, February 28 2023 18:29

ArmInfo. According to the Fitch Ratings forecast for 2023, Armenia's public debt will decrease to 47.3% of GDP, and external debt - to 38.1% of GDP, while economic growth slows down to 6.1%. The agency also expects that in 2023 inflation in Armenia will be 6.5%, GDP per capita - $7472, the state budget deficit - 2.5% of GDP, and the current account deficit (including FDI) will remain at 1.2 % of GDP. This is noted in the February Fitch rating report on the capital of Armenia - Yerevan.

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There are already over 2.1 million microprocessing cards with NFC  chip in Armenia - 66.6% of total
 Friday, February 24 2023 18:38

ArmInfo.As of January 1, 2023, there were 3.184 million cards in the plastic market of Armenia (including co-badged ArCa-MIR and Russian MIR cards), with an acceleration of y-o-y growth from 8.3% to 17.8%.

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Fitch Ratings upgraded Ardshinbank’s outlook to Positive
 Wednesday, February 22 2023 19:05

ArmInfo.Fitch Ratings, an international credit rating agency, affirmed Ardshinbank’s Long-Term Issuer Default Rating at B+, upgrading Outlook to Positive from Stable.

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News
Double increase in turnover tax rate will stimulate transition to  common taxation system: Deputy MinisterDouble increase in turnover tax rate will stimulate transition to  common taxation system: Deputy Minister
Rocket Line - now for 60 months: Idram and IDBankRocket Line - now for 60 months: Idram and IDBank
Rising prices for services, going into shadows and closing businesses  - incomplete list of Rising prices for services, going into shadows and closing businesses  - incomplete list of "expectations" from revision of turnover tax  rate from SME Cooperation Association President
Liability for misrepresented information is proposed in ArmeniaLiability for misrepresented information is proposed in Armenia
Government proposes to make changes to car trade system within  Government proposes to make changes to car trade system within  "Trade-in" program
Armswissbank attracts us$ 10 million loan package from EBRD to support competitiveness and green transitionArmswissbank attracts us$ 10 million loan package from EBRD to support competitiveness and green transition
Armenian lawyers unwilling to pay taxes on universal basisArmenian lawyers unwilling to pay taxes on universal basis
EU Commissioner: EU will continue to contribute to economic  development of ArmeniaEU Commissioner: EU will continue to contribute to economic  development of Armenia
PM discusses opportunities for diversifying Armenian economy with WB,  IFC management PM discusses opportunities for diversifying Armenian economy with WB,  IFC management 
EBRD President considers programs implemented by Bank useful for  development of private sector in ArmeniaEBRD President considers programs implemented by Bank useful for  development of private sector in Armenia
EBRD lends up to US$ 10 million to Armeconombank for MSME on-lendingEBRD lends up to US$ 10 million to Armeconombank for MSME on-lending
Armenia benefits greatly from influx of capital and IT specialists -  EBRD chief economistArmenia benefits greatly from influx of capital and IT specialists -  EBRD chief economist
Finance Ministry, French Development Agency sign cooperation  agreement for 2024-2027Finance Ministry, French Development Agency sign cooperation  agreement for 2024-2027
Idram Junior and Koreez signed a memorandum of cooperationIdram Junior and Koreez signed a memorandum of cooperation
During the 33rd EBRD Business Forum, Ardshinbank hosted a panel discussion on economic and trade sanctions.During the 33rd EBRD Business Forum, Ardshinbank hosted a panel discussion on economic and trade sanctions.
Government to allocate additional AMD 3 billion to finance state  order for healthcareGovernment to allocate additional AMD 3 billion to finance state  order for healthcare
EBRD provides $10 million loan to ArmSwissBan to support  competitiveness and green transition of MSMEsEBRD provides $10 million loan to ArmSwissBan to support  competitiveness and green transition of MSMEs
Pankin: Armenia`s suspension of CSTO funding isn`t tragedyPankin: Armenia`s suspension of CSTO funding isn`t tragedy
Armenian government approves program for providing housing to  families from Artsakh; expenses estimated at  AMD 10-12 billion Armenian government approves program for providing housing to  families from Artsakh; expenses estimated at  AMD 10-12 billion 
EBRD Governors re-elect President Odile Renaud-Basso for second termEBRD Governors re-elect President Odile Renaud-Basso for second term
EBRD, USAID to develop transport infrastructure of Armenia,  Azerbaijan, Georgia EBRD, USAID to develop transport infrastructure of Armenia,  Azerbaijan, Georgia 
No specific dates for the entry into force of the law on compulsory  life insurance for tourists visiting Georgia - RA MFANo specific dates for the entry into force of the law on compulsory  life insurance for tourists visiting Georgia - RA MFA
Pashinyan: all those who have the necessary skills, abilities and  desire can make a profit in ArmeniaPashinyan: all those who have the necessary skills, abilities and  desire can make a profit in Armenia
Odile Renaud-Basso: Armenian economy continues to grow despite  numerous negative factorsOdile Renaud-Basso: Armenian economy continues to grow despite  numerous negative factors
Minister of Territorial Administration and Infrastructures refrains  from specifying North-South Road Corridor Investment Program`s  implementation costs and deadlines Minister of Territorial Administration and Infrastructures refrains  from specifying North-South Road Corridor Investment Program`s  implementation costs and deadlines 
EBRD improves Armenia`s GDP growth forecast for 2024 from previous  4.5% to updated 6.2%EBRD improves Armenia`s GDP growth forecast for 2024 from previous  4.5% to updated 6.2%
EBRD promises unprecedented investments in Armenian economyEBRD promises unprecedented investments in Armenian economy
FMO provided Ardshinbank with a guarantee for a credit portfolio of 20 million US dollarsFMO provided Ardshinbank with a guarantee for a credit portfolio of 20 million US dollars
Lending for construction of southern section of Sisian-Kajaran road  will be largest program ever implemented by EBRD in Armenia - Bank  President Lending for construction of southern section of Sisian-Kajaran road  will be largest program ever implemented by EBRD in Armenia - Bank  President 
French Development Agency, Armenian government to expand cooperation  areas and programs` scope French Development Agency, Armenian government to expand cooperation  areas and programs` scope 
The Power of One Dram Sums up the Two-Year Program with Teach for ArmeniaThe Power of One Dram Sums up the Two-Year Program with Teach for Armenia
Noubar Afeyan willing to use his potential to strengthen Armenia Noubar Afeyan willing to use his potential to strengthen Armenia 
Ministry of Economy of Armenia denies that growth in agricultural  exports is due to re-exportsMinistry of Economy of Armenia denies that growth in agricultural  exports is due to re-exports
Finance Minister: Armenia`s GDP generation growth potential increased  from 4-4.5% to 5.5-6%Finance Minister: Armenia`s GDP generation growth potential increased  from 4-4.5% to 5.5-6%
EBRD funds customs and logistics centre in SyunikEBRD funds customs and logistics centre in Syunik
Grigori Zakaryan: “Capital markets have a crucial for economic development.”Grigori Zakaryan: “Capital markets have a crucial for economic development.”
Ambassador of Kazakhstan: priorities for development of Eurasian integration proposed by Armenia will allow us to intensify mutually  beneficial cooperation within EAEUAmbassador of Kazakhstan: priorities for development of Eurasian integration proposed by Armenia will allow us to intensify mutually  beneficial cooperation within EAEU
EBRD and the European Union are joining forces with Acba bank to boost the availability of funding for Armenian MSMEsEBRD and the European Union are joining forces with Acba bank to boost the availability of funding for Armenian MSMEs
Thanos Arvanitis: The time has come for Armenia to accelerate reformsThanos Arvanitis: The time has come for Armenia to accelerate reforms
Armenia to host 33rd EBRD Business Forum with flagship sponsorship of ArdshinbankArmenia to host 33rd EBRD Business Forum with flagship sponsorship of Ardshinbank
EAEU economic operators will become more recognizable when carrying  out foreign economic activitiesEAEU economic operators will become more recognizable when carrying  out foreign economic activities
Martin Galstyan: If background is favorable, reduction in key rate  will result in lending rates decreaseMartin Galstyan: If background is favorable, reduction in key rate  will result in lending rates decrease
About 75% of Armenia`s exports are precious metals and stones, which  speaks of vulnerability of Armenia`s economyAbout 75% of Armenia`s exports are precious metals and stones, which  speaks of vulnerability of Armenia`s economy
92% tax revenues recorded in Armenia in 1st quarter of 2024 92% tax revenues recorded in Armenia in 1st quarter of 2024 
IDBank issues the 2nd tranche of dollar bonds of 2024IDBank issues the 2nd tranche of dollar bonds of 2024
Armenia to be next country to host ACE programArmenia to be next country to host ACE program
Armenia agrees to EBRD expansion Armenia agrees to EBRD expansion 
Alkis  Drakinos : It is necessary to first pick the low hanging fruit  to ensure developmentAlkis  Drakinos : It is necessary to first pick the low hanging fruit  to ensure development
CBA Governor: Overheating of prices in Armenian real estate market  may have ranged from 20-30%CBA Governor: Overheating of prices in Armenian real estate market  may have ranged from 20-30%
Government writes off 469 financial obligations of Artsakh citizens  on loans secured by goldGovernment writes off 469 financial obligations of Artsakh citizens  on loans secured by gold
Food products, services cause of 0.8% inflation in Jan-Apr 2024 Food products, services cause of 0.8% inflation in Jan-Apr 2024 
Armenia`s Deputy Premier receives IMF delegationArmenia`s Deputy Premier receives IMF delegation
Armenian Economy Minister travels to USA on week-long working visitArmenian Economy Minister travels to USA on week-long working visit
Armenia is trapped in Armenia is trapped in "Dutch disease" - economist
“By Your Side”: IDBank`s new support program for displaced Artsakh citizens“By Your Side”: IDBank`s new support program for displaced Artsakh citizens
Team Telecom Armenia develops Be Free packageTeam Telecom Armenia develops Be Free package
Armenia scares with its high prices: Economist sounds alarm due to  reduction in exports of servicesArmenia scares with its high prices: Economist sounds alarm due to  reduction in exports of services
Large crayfish farming complex to be built in Shirak: volume of  investments totals AMD 300 millionLarge crayfish farming complex to be built in Shirak: volume of  investments totals AMD 300 million
Eurowings launches Berlin-Yerevan-Berlin flightsEurowings launches Berlin-Yerevan-Berlin flights
Russia bans sugar exports; 28 thousand tons allowed to be exported to  ArmeniaRussia bans sugar exports; 28 thousand tons allowed to be exported to  Armenia
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