ArmInfo.

ArmInfo.  In the banking system of Armenia, the concentration of assets among the top five increased over 2013-2018 from 47.7% to 55.3%, although it decreased compared to  2017 by 0.1%.  Among the main assets are Ameriabank, Ardshinbank,  Armbusinessbank, ACBA-Credit Agricole Bank and INECOBANK.

ArmInfo. Today Inecobank CJSC has announced the completion of a private transaction between the European Bank for Reconstruction and Development (EBRD) and US based developing World Markets (DWM) investment company, according to which the later acquired part of EBRD shares of Inecobank CJSC. Under the terms of this transaction, DMW becomes a shareholder with 5% of the total shares at Inecobank CJSC.

ArmInfo.

ArmInfo. According to the Central Bank of Armenia, by the end of 2018, the total volume of agricultural loans amounted to 136.2 billion drams ($ 282 million),  having increased by 3.6% over the past year.

ArmInfo. In 2018, the banking system of Armenia increased tax payments to the state  treasury by 21.2% to 48.6 billion drams ($ 100.5 million). Of this  amount, 91% or 44.2 billion drams were paid in direct taxes, with a  y-o-y growth of 23.8%.

ArmInfo.The banking system assets of Armenia accelerated growth in 2018, to 14% from 6.4% in 2017, reaching 4.964 trillion drams ($ 10.3 billion). According to  the Express Ranking of Armenian banks prepared by ArmInfo, in their  structure, credit investments and other loans crossed the mark of 3  trillion drams ($ 6.3 billion), with the acceleration of y-o-y growth  from 4% in 2017 to 19.2% in 2018.

ArmInfo.The banking system of Armenia increased its net profit in 2018 by 78.7% to 62.2 billion drams ($ 128.6 million), against a relatively modest growth in 2017  by 15.6%.

ArmInfo. Despite the high  ratioof capital adequacy, at least among the largest players in the  Armenian banking market, the opportunities for its optimal use are  severely limited, Financial Director of one of the largest banks in  Armenia, former Minister of Finance David Sargsyan stated at a  banking conference organized by Fitch Ratings international agency  last week in Yerevan.

ArmInfo.Armswissbank has been granted the status of market maker on the first dollar bonds of INECOBANK. According to NASDAQ OMX Armenia, the issue volume amounted  to $ 5 million, coupon yield - 5.25%, circulation period - 3 years,  coupon payments - once every six months, with full repayment on June  11, 2021.

ArmInfo. Viva Cell-MTS in the framework of the regular autumn promotion offers to buy mobile devices in installments at a zero rate, without prepayment and  commissions. As the press service of the company told ArmInfo, a loan  in installments is made through INECOBANK. The promotion is valid  until December 31 of this year.

ArmInfo. In Armenia, the number of plastic cards increased by 16% per annum to July 1, 2018, to 1.851 million units, against the decline of 9% a year earlier.  Adequately, the annual growth in the total volume of plastic  transactions sharply accelerated from 7.2% in the first half of 2017  to 23% in the first half of 2018, exceeding 863.5 billion drams. This  is evidenced by the data of the Central Bank of Armenia.

ArmInfo. Since March 2019, in the Ararat, Armavir and Shirak regions of Armenia, a pilot agro-insurance program has started, risks of hail and frosts will be insured. This was announced on August 31 by Armenian Minister of Agriculture Artur Khachatryan.

ArmInfo. On the threshold of launching agricultural risk insurance in Armenia, y-o-y growth of banks' lending to the agricultural sector accelerated dramatically  from 0.9% to 7.4% by July 1, 2018.

ArmInfo.

ArmInfo.The Armenian banking system sent 27.6 billion drams to the state treasury in the first half of 2018, which is 26% higher than the figure of a year ago. Of  this amount, over 87.3% or 24.1 billion drams was paid on direct  taxes (incl. tax on profits and income tax), with an annual growth of  40.6%. The top five banks of taxpayers - Ameriabank, ACBA-Credit  Agricole Bank, INECOBANK, Ardshinbank and VTB Bank (Armenia), sent to  the state budget in the first half of 2018 a total of 15.3 billion  drams (annual growth of 34.2%), of which 14 billion drams - on direct  taxes (annual growth of 33.3%). According to the RA State Revenue  Committee, in the first hundred of the largest taxpayers of Armenia  in the first half of 2018, out of 17 operating banks, 13 as many as a  year ago fell.

ArmInfo.

ArmInfo.The portfolio of the  program of subsidizing the interest rates of agrocredits in the  processing sector of Armenia in 2018 was 18 billion drams. As the RA  Ministry of Agriculture press-service informs, the maximum loan  amount per one borrower reaches 1 billion AMD.

ArmInfo.

ArmInfo. The customer base of the Armenian banking system totaled 2 446 724  individuals and 80 182 legal entities as of April 1, 2018. According  to the Central Bank, provided by the National Statistical Service of  Armenia, a total of 2,526,906 customers had in the Armenian banks  4,703,539 accounts, of which 4,537,222 - physical accounts and 166  317 - accounts of legal entities.