ArmInfo. After merger of banks, call liabilities of merged bank will be valid within 1 year, while time deposits will remain valid under contract terms, Deputy Chairman of Armenia's Central bank Nerses Yeritsyan announced at December 18 at the Armenian Parliament, when presenting the draft amendments ato the law "On Guarantee of Remuneration of Bank Deposits of Physical Entities".

ArmInfo.  Anelik Bank has increased its authorized capital by 1.88 bln AMD. The press office of the Bank has told ArmInfo that the capital has been increased due to direct investment by the owner - Credit Bank S.A.L. (Lebanon). 

ArmInfo. The European Bank for Reconstruction and Development (EBRD) is making an equity investment of AMD 9.8 billion (equivalent to US$ 20.3 million) for up to 22.7 per cent of shares in Inecobank, a specialist MSME and retail bank in Armenia.  Inecobank will use the proceeds of the EBRD investment to finance the acquisition of ProCredit Bank Armenia, another local bank oriented towards micro, small and medium-sized enterprises (MSMEs). The merged bank will become a leading MSME lender in the country, serving over 10,000 businesses and 200,000 individuals.

ArmInfo.

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. 

ArmInfo. Armenia's banking sector paid 31.9 billion drams to the state budget for 9 months of 2015, which is by 6.3% more than a year ago. Profit and incomes taxes accounted for 28.9 billion drams of total. According to the State Revenue Committee of Armenia, 14 (vs.  11 for 9 months of 2014) out of 21 operating banks were listed among top 100 of taxpayers in Armenia for 9 months of 2015.  Ameriabank, Ardshinbank, VTB Bank (Armenia), HSBC Bank Armenia, and Armbusinessbank were top five of largest taxpayer-banks in Armenia. 

ArmInfo.

ArmInfo. Inecobank has launched a new tool for remote account management - Ineco Mobile app for smartphones and tablets, the press office of the Bank has told ArmInfo.    

ArmInfo. Inecobank has facilitated means for money transfers through an SMS or a phone call.  Inecobank is connected to systems such as INTER EXPRESS, MONEY GRAM, UNISTREAM, INTEL EXPRESS, AVERS, ANELIK, SIGUE and CONVERS TRANSFER.

In the first half of 2015 Armenian banks paid 22.558 bln AMD taxes to the state budget, which is by 6.8% more than a year ago. 20.633 bln AMD accrued to profit and income tax. According to the State Revenue Committee of Armenia, top 100 taxpayers for the first half of 2015 include 15 out of 21 operating banks (versus 11 in Q1 2014).  Top five of taxpayer - banks comprises VTB Bank (Armenia), Armbusinessbank, Ardshinbank, Ameriabank, and HSBC Bank Armenia. 

INECOBANK, along with ARAY and Technolife electronic- device stores have launched a joint offer - 15% of non-cash payment is to be returned to cardholders.

INECOBANK, along with ARAY and Technolife electronic- device stores have launched a joint offer - 15% of non-cash payment is to be returned to cardholders.

Armenia's banking system paid 9.742 bln drams taxes (including 8.681 bln drams income and profit taxes) to the state budget in Q1 2015, which is by 9.2% more than a year ago. According to the State Revenue Committee of Armenia, top 100 taxpayers for Q1 2015 include 13 out of 12 operating banks (versus 11 in Q1 2014). 

ArmInfo interview with Ishkhan Mkhitaryan, Chief Executive Officer, "ARMENIAN CARD" ("ARCA") National Payment System.