ArmInfo.AraratBank has been again awarded the Partner of the Year by Ria Money Transfer for achieving great results during 2020 and supporting Ria Money Transfer business growth.

ArmInfo. The volume of the leasing services  market in Armenia for 2020 increased by 56.1%. According to the  Financial Analytics Service of ArmInfo IC, during the last year the  volume of the leasing market increased to 47.6 billion AMD or $ 91.1  million.

ArmInfo.AraratBank and BlueOrchard Covid-19 Emerging and Frontier Markets MSME Support Fund concluded a bilateral loan agreement for a total amount of USD 5 million to support MSMEs affected by COVID-19 in Armenia.    

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. ARARATBANK announced rebranding, marking the beginning of a new historical stage, for the bank itself, in particular, and the entire banking  system of Armenia in general. Symbolically, the event was organized  at the height of 2851 meters above sea level, on the top of Mount  Teghenis, which offers an incredible view of the biblical Mount  Ararat, Lake Sevan, Mount Arai Ler, Geghama Range and 4 peaks of  Mount Aragats.

ArmInfo. Despite the significant stress associated with the coronavirus, Armenia's banking system has shown itself to be stable. Chairman of the Board of  Directors of ARARATBANK Grigor Hovhannisyan, Chairman of the Bank's  Council, expressed a similar opinion to journalists at the event  dedicated to the rebranding of ARARATBANK on September 24.

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.

ArmInfo.The universal credit company First Mortgage Company (PIK UKK) plans to issue two tranches of registered, coupon, non-documentary bonds with issue volumes of  100 million drams and $ 800 thousand secured by mortgage loans. This  is evidenced by the prospectus for the issue of these bonds posted on  the website of the Central Bank of Armenia.

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ArmInfo.

ArmInfo.As of March 16, the Central Bank of Armenia did not make any decisions on suspension of the work of branches of commercial banks of Armenia. This was  reported by the press service of the CBA.

ArmInfo. Due to the current situation and in order to avoid crowds in the branches, by decision of the Board of ARARATBANK, clients (individuals and legal entities,  private entrepreneurs) will be provided with a "credit vacation" for  a period of 2 months, starting from March 16, if desired.

ArmInfo.

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.Mher Ananyan, who has many years of experience in the financial and banking sector, has been appointed Chairman of the Board - Executive Director of  ARARATBANK.

ArmInfo.ARARATBANK launched a three-year term deposit - "Ararat Comfort". As ArmInfo was informed in the press service of the bank, this deposit has an attractive  interest rate and the ability to replenish the amount without  visiting the bank. According to the source, the annual nominal  interest rate for dram deposits is 9%, for dollars - 4.65%, for euros  - 2.5%.

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%.