ArmInfo. On October 19, INECOBANK presented a new product - InecoOne - a system to control cash online 24/7.

ArmInfo. Head of the Association of Russian Banks Garegin Tosunyan says he is not ready to criticize the financial regulators, but disagrees with the policy of surplus amalgamation of the market players.

ArmInfo. Banks of Armenia continue intensive capitalization, while experts anticipate new mergers till the end of 2016. According to the data of Financial Ranking of Armenian banks prepared by ArmInfo only 7 banks out of 19 have so far met the the minimal capital requirement, which according to the CBA's decision must not be less than 30 bln drams starting from 2017.

ArmInfo. Share of non-performing  loans (NPLs) in loan portfolio of half of Armenian banks has exceeded  upper ceiling of critical threshold-upper than 16% versus  international critical threshold of 10-15%. There are large creditors  to the country's economy among them. 

ArmInfo. Inecobank CJSC was named "Best Trade Partner Bank" in 2015 at IFC's 7th Global Trade Partners Meeting, which took place in Milan, Italy, in February 2016. The Best Trade Partner Bank WCSS Award recognizes Inecobank's major contribution to IFC's trade finance programs in Armenia, the press-service of Inecobank reports. 

ArmInfo. Most of Armenian banks have significantly corrected their financial results of 2014 in the report for 2015. Eventually, instead of the anticipated 32.8% decline of net profits in 2015, this indicator increased 12.4% to 18.3 bln drams ($37.7 mln). 

ArmInfo.  Macroeconomic and financial stability predetermined economic growth in the mid-term. As a result it became possible to prevent further decline of purchasing power because of already small profits, Armenia's chief banker Arthur Javadyan told at the New Year reception in the Central Bank of Armenia on December 25. 

ArmInfo. Pioneer and one of the consumer lending leaders on the Armenian market, INECOBANK will shortly become one of the largest financial institutions of Armenia. To attain that goal, the Bank has settled the problem of capitalization successfully and effectively. To meet the Armenian Central Bank’s requirement that comes into effect in 2017, the Bank has recently increased its capital by acquiring the Armenian subsidiary of the German ProCredit Bank and attracted the European Bank for Reconstruction and Development (EBRD) – a reliable partner and institutional investor as a stakeholder. In an interview with ArmInfo, Chairman of the Management Board of INECOBANK Taron Ganjalyan speaks of the merger and further development strategy of the Bank.

ArmInfo.  The International Finance Corporation (IFC) supports consolidation of Armenian banks to boost SME lending. The Corporation's press office has told ArmInfo that IFC, a member of the World Bank Group, is providing a $20 million loan to Armenian Inecobank to support its acquisition of ProCredit Bank Armenia, promoting the first market-driven consolidation in Armenia's banking sector and boosting access to finance for small and medium enterprises. Further information will be presented at the Dec 10 event.