ArmInfo. As of July 1, 2022, over 2.8mln plastic cards were effective in Armenia, including  co-badging cards ArCa-MIR and Russian MIR cards, with a slower increase - from 8.3% to 7.7% - which is lower than the 9.1% increase in the corresponding period of 2020 and must lower than the 22.2%  increase in 2019. In the first half of 2022, 95,600 more cards were issued, with 67,400 cards issued in the 2nd quarter. The cause is the relocation of the capital to Armenia by a larg number of Russian residents. 

ArmInfo.In H1 2022, the banking system of Armenia sent more than 32 billion drams or $80.7 million to the state treasury through taxes, which is 31% more than a  year ago.

ArmInfo. As of April 1, 2022, over 2.7mln plastic cards were effective in Armenia, with an extremely moderate increase - 3.5% in the corresponding period of 2021 to 7.5%,  which is much lower than the 17.3% and 17.5% in 2019 and 2020  respectively.

ArmInfo.The banking system of Armenia in Q1 2022 increased tax deductions to the state treasury by 4.5% per annum - up to 12.8 billion drams ($26.3 million), against a  decrease of 3.2% a year earlier in the same period. 77.2% or 10.6  billion drams of this amount was paid in direct taxes, with a y-o-y  increase of 8.2% (against a 12.5% decline a year earlier).

ArmInfo. The banking system of Armenia for 2021 increased tax deductions to the state treasury by 6.3% - up to 52.2 billion drams ($108.8 million). Of this amount,  87.2% or 44.7 billion drams was paid in direct taxes, with a y-o-y  growth of 4.4%.

ArmInfo. Armenian banks managed to improve the dynamics of net profit in 2021 with a 54% growth (from a 22.3% decline in 2020). In absolute terms, the total profit of the  system amounted to 87.3 billion drams or $181.8 million.

ArmInfo.INECOBANK has resumed issuing its bonds after a two-year break - this is a tranche of 2 billion drams. This is indicated in the prospectus of this issue  posted on the website of the Central Bank of the Republic of Armenia,  according to which the initial placement started on December 16, 2021  and is scheduled for completion on March 16, 2022.

ArmInfo. In January - September 2021, the banking system of Armenia sent 40.9 billion drams or $ 84.5 million to the state treasury through taxes, which is 7.6%  more than a year ago.

ArmInfo. The European Bank for Reconstruction and Development (EBRD) is providing a US$ 5 million financial package to Inecobank in Armenia to facilitate the  private sector's transition to more sustainable, low-carbon and  climate-resilient practices. The project is supported by the European  Union (EU) with 523,000 EUR of grant incentives.

ArmInfo.In the first half of 2021, the banking system of Armenia sent over 30 billion drams or $ 60.6 million to the state treasury through taxes, which is 19.4% more  than a year ago. Of this amount, over 85.9% or 25.8 billion drams was  paid under direct taxes (including income tax and tax on profit),  with an increase of 13.4% over the year. According to the data of the  RA State Revenue Committee, in the total volume of payments of 1000  large taxpayers in Armenia, 17 banks account for 5.1%.

ArmInfo. Banking system of Armenia in the first quarter of 2021 reduced tax deductions to the state treasury by 3.2% per annum - to 12.15 billion drams ($ 22.9  million), against an increase of 12.6% a year earlier in the same  period.

ArmInfo.The banking system of Armenia in 2020 reduced tax deductions to the state treasury by 10.1% - to 49.1 billion drams ($ 93.9 million). Of this amount, 87.2%  or 42.8 billion drams were paid under direct taxes, with a y-o-y  decline of 17%.

ArmInfo.

ArmInfo. IFC, a member of the  World Bank Group, is providing a loan of $15 million to Inecobank to  boost lending to Armenia's micro, small, and medium enterprises  (MSMEs), helping them address the challenges triggered by the  COVID-19 outbreak., the press service of IFC reports.  Given the  global pandemic, many MSMEs in Armenia face lower revenues, higher  costs, supply disruptions, and complicated inventory management. As a  result, they need working capital liquidity financing to continue  operating, providing vital employment, goods and services, and  generating tax revenues. IFC's loan to Inecobank, its longstanding  client in Armenia, is part of its $8 billion fast-track financing for  its private sector clients worldwide, to sustain economies and  protect jobs during this unprecedented global crisis. 

ArmInfo. In the H1 of 2020, the  banking system of Armenia allocated 26.7 billion drams or $ 55.4  million to the state treasury through taxes, which is 9.2% lower than  the indicator a year ago. Of this amount, over 86.5% or 23.1 billion  drams was paid under direct taxes (including income tax and tax on  profits), with a y-o-y  decline of 17.5%. According to the data of  the RA State Revenue Committee, in the total volume of payments of  1000 large taxpayers in Armenia, the share of 17 banks is 5.4%.

ArmInfo.The European Bank for  Reconstruction and Development (EBRD) is providing a US$ 25 million  loan to InecoBank, a longstanding partner bank in Armenia, for  extending support to private companies that have been affected by the  economic impact of the coronavirus pandemic, the press service of the  EBRD reports.

ArmInfo. The assets of the banking system of Armenia slowed down annual growth from 16.1% to 15.3%, amounting to 5.9 trillion drams ($ 11.7 billion) as of April 1, 2020.  According to the Express-Ranking of Banks of Armenia, prepared by ArmInfo IC, in their structure credit investments and other loans  reached 3.8 trillion drams ($ 7.5 billion), with annual growth  accelerating from 16.2% to 20.4%.

ArmInfo. The banking system of Armenia increased its net profit in the first quarter of 2020 by 40% per annum to 23.3 billion drams ($ 46.3 million), while a year earlier a subsidence of 17.4% was recorded.

ArmInfo. The European Fund for Southeast Europe (EFSE) has provided two loans to Inecobank, a longstanding partner institution in Armenia, to support the bank in  responding to the economic impacts of the coronavirus crisis the  official website of EFSE reports.  

ArmInfo. The European Bank for Reconstruction and Development (EBRD) withdrew from the capital of INECOBANK by selling its share (23,002 shares or 12.6%) to the  majority shareholders Avetis Baloyan and Karen Safaryan. This is  evidenced by the information posted on the website of the Central  Bank of the Republic of Armenia on actual changes in the share  capital of INECOBANK.