About us
Mission
INECOBANK’s mission is to contribute to Armenia’s economic development and prosperity of the public by rendering high-quality universal banking services.
As one of the leading banks in the Armenian banking industry, Inecobank strives to assist the development of its customers’ businesses and to expand and consistently improve the range and quality of its banking services.
Inecobank’s activities are guided by the interests of five stakeholders, including its customers, partners, staff, shareholders, and society. We always try to create significant added value for them. Throughout our activities, we have always followed these guiding principles.
We confidently look toward the future and are committed to achieving the Bank’s objectives.
General Information about the Bank
"INECOBANK" CJSC was registered on February 7, 1996
(banking license number 68 issued by the Central Bank of Armenia).
The
Bank currently has four branches: Koryun /in Yerevan/, Gyumri, Vanadzor and
Armavir.
"INECOBANK" CJSC
is:
- A member of the Association of Banks of the Republic
of Armenia;
- A primery dealer in the Government T-bill market of
Armenia;
- A partner-bank of the German-Armenian Foundation in
the frameworks of the jointly-implemented Micro, Small, and Medium Enterprise
Lending Program;
- A participant-bank in USAID's Loan Guarantee Program;
- A partner-bank of the European Bank For Reconstruction
and Development (EBRD) in the frameworks of the jointly-implemented Small and
Medium Enterprise Lending Program;
- A partner-bank of the European Bank For Reconstruction
and Development (EBRD) in the frameworks of the jointly-implemented Trade
Facilitation Program (TFP); and
- A member of the international S.W.I.F.T. payment
system.
The Bank’s auditor
is KPMG.
The bank
sets an annual plan for each financial year, which is composed of the bank's
annual budget and work plan. Bank's annual plan is based on the long-run
development plan. Together with the annual plan, the Board of the Bank
sets the following:
- The main
measures according to which the Bank's plan will be considered as
accomplished, partially accomplished or overaccomplished;
- Explainable limits
of budget fluctuations
- Bank employees’
motivation principles based on the Annual plan accomplishment.
The above
mentioned principles are the base for the evaluation of the Bank’s annual plan
execution and work of the executive body.
INECOBANK is active in the following areas:
- General Account Servicing
- Commercial lending;
- Installment Credits;
- Deposits;
- Issuing and servicing payment cards;
- Trading in gold bullion standards; and
- Guarantees, letters of credit, and so on.
For detailed information on these and other
services of Inecobank, please, visit the respective sections of the site, which
can be found on the left side of the screen.
