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.

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.

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.

ArmInfo.The Netherlands Development Bank (FMO) provided ARARATBANK with another loan - this time in the amount of $ 10 million. According to the Bank's press  service, the funds will be used to develop SMEs, finance energy  saving projects or the so-called "green business".

ArmInfo. In 2019, the banking system of Armenia increased tax payments to the state  treasury by 7.7% - up to 54.6 billion drams ($ 114 million). Of this  amount, 94.5% or 51.6 billion drams were paid in direct taxes, with a  y-o-y growth of 23.8%.

ArmInfo. Eight Armenian  commercial banks headed by IDBank appealed to RA Prime Minister Nikol  Pashinyan and CBA Chairman Arthur Javadyan in connection with a  lawsuit initiated by entrepreneur Gevorg Afandyan against IDBank.  Chairman of Management Board at IDBank Mher Abrahamyan at a November  18 press conference stated this.

ArmInfo. In January-September 2019, the banking system of Armenia sent 42.3  billion drams in taxes to the state treasury, which is 10% higher  than a year ago. Of this amount, 94.5% or 40 billion drams were paid  on direct taxes (including profit tax, income tax), with y-o-y growth  of 15.9%.

ArmInfo.In the h1 of 2019, the banking system of Armenia sent 29.4 billion drams or about $ 62 million tax to the state treasury, which is 6.5% higher than the  indicator a year ago. Of this amount, over 95.2% or 28 billion drams  were paid on direct taxes (incl. profit tax and income tax), with an  YOYgrowth of 16.2%.

ArmInfo.The investment company Armenbrok OJSC successfully completed the acquisition of a stake in Capital Investments CJSC. As a result of the transaction, the investment company Armenbrok became the sole owner of Capital Investments CJSC.

ArmInfo. The 5th anniversary was  celebrated by the Amundi-ACBA- Asset-Management pension fund,  established in Armenia by ACBA-Credit Agricole Bank and French  company AMUNDI. According to the press service of Bank ACBA-Credit  Agricole, Amundi-ACBA- Asset-Management manages assets of more than  95 billion drams under the management of Amundi-  ACBA-Asset-Management.In connection with the 5th anniversary,  Amundi-ACBA-Asset-Management intends, with a three-year profit, to  send 40,000 euros for the implementation of cultural and educational  programs to the French University of Armenia and the TUMO Center for  Creative Technologies.Chief Executive Officer of the French company  AMUNDI, Bernard de Wit, said: "Armenia is the first country in the  region that adapted this system and initiated a similar approach in  pension reform. It was quite attractive, so we decided to get  involved in this process and ensure Armenia's exemplary status of the  country in pension reform plan. Other countries in the region have  shown interest in the Armenian accumulative pension system, and in  this context the country is becoming an example. 

ArmInfo. Armenian Prime Minister  Nikol Pashinyan met on May 20 with the Deputy Chief Executive Officer  of AMUNDI Company Bernard de Wit, and the delegation headed by him.  Note that the French company "AMUNDI" is the main shareholder of the  pension fund CJSC "AMUNDI-ACBA Aset Management".