ABOUT INECOBANK

OUR HISTORY IS OUR HERITAGE

Our history is our heritage: Inecobank

Being one of the leading banks in the Southern Caucasus region, Inecobank CJSC offers full range of banking services, including digital banking solutions to individuals, SMEs and corporate clients.


The bank was founded on February 7, 1996 (License N 68, issued by the Central Bank of Armenia). Since then, the Bank has been providing unmatched convenience in Armenia by serving more than 500 000 customers and over 200 000 online users. To introduce completely new banking services the Bank has developed and provided industry leading banking solutions in the Armenian market.


Today the Bank has established correspondent relations with a number of leading banks; and since 1998 it has been cooperating with more than 30 high ranking international financial organizations.

OUR ADVANCED DIGITAL SOLUTIONS

Inecobanks advanced digital banking solutions
  • In 2019 the bank introduced new feature - "Transfer to Card",  which enables InecoOnline and InecoMobile users to make account-to-card and card-to-card transfers to the cards issued by the banks partnering ArCa system.
  • In 2018 the bank was the first in the banking system to launch InecoPay payment system enabling to make payments from smartphones.
  • In 2017, the bank was the first to introduce a fully automated consumer lending solution through its mobile and online applications. As a result the loans are provided 24 hours a day, 7 days a week.
  • In 2014 the bank launched InecoMobile, its mobile banking application. Currently the application is one of the leading financial applications in the country, with over 150 000 active users.
  • In 2012, with the introduction of InecoOnline, the bank was one of the first to provide 24/7 banking services to its customers.
  • In 2009, the bank digitalized and fully automated the “Point of Sale Loan” product, reducing the loan generation from 3-4 days to a few minutes.

OUR MEMBERSHIPS

Inecobank is a member to a number of financial and payment systems
  • Member of “SWIFT” international payment system
  • Member of "Money Gram", "Unistream", "Intel Express", "Sigue" and "Converse Payments" international money transfer systems
  • Full member and a shareholder of "ArCa" payment system
  • Affiliated member of "MasterCard" international payment system
  • Member of "Visa" international payment system
  • Member of “AMX Armenia Securities Exchange”

OUR ACHIEVEMENTS

Inecobank's achievements

Having started with just one branch and a few loyal employees, we have grown into one of the leading innovative banks in the country, which provides about 800 jobs and is among the top taxpayers of Armenia. 

 

2019

MOODY’S Ba3 RANKING

Moody’s Investors Service, upgraded the ratings of Inecobank from  B1 to Ba3 for local currency long-term deposits and from B2 to B1 for foreign-currency long-term deposit.

2018

MOODY’S B1 RANKING

Moody’s Investors Service, assigned the B1 local currency long-term deposit and B2 foreign-currency long-term deposit ratings to Inecobank CSJC.

 

2018

“BEST MOBILE BANKING APPLICATION - ARMENIA 2018”

InecoMobile was awarded the first prize in the "Best Mobile Banking Application - Armenia 2018" nomination at Global Business Outlook Award.

 

2018

“MOST INNOVATIVE PAYMENT SOLUTION - ARMENIA 2018”

InecoPay won "Most Innovative Payment Solution - Armenia 2018" at Global Business Outlook Award.

 

2018

“TECHNOLOGY TRIUMPH” SILVER AWARD

Inecobank won the Silver Award in the "Technology Triumph" nomination at "Euroasia's Financial and Banking Elite 2018" annual international award ceremony, organized by the "Financial & Banking Association of Euro-Asian Cooperation".

 

2018

"Financial PR of the Year" AWARD

Inecobank won "Financial PR of the Year" award at "Armenian PR Award 2018", organized by "Armenian PR Associaton" scientific-informational NGO.

 

2016

BEST TRADE FINANCE PARTNER BANK

Inecobank was announced the "Best Trade Finance Partner Bank” by International Finance Corporation/IFC.

 

2015

ACQUIRED 100% SHARES OF PROCREDIT BANK

Inecobank acquired 100% of shares of ProCredit Bank CJSC Armenia.

 

2014

ISO/IEC 27001

The bank was awarded the ISO/IEC 27001 Information Security Management System Certificate.

 

2012

AWARD BY GERMAN “COMMERZBANK"

Inecobank received an award from German "Commerzbank" for high quality and proficiency of international transfers made through COMMERZBANK.

 

2010

AWARD BY GERMAN “COMMERZBANK”

The bank acquired a reward by German “Commerzbank” for excellent cooperation in the sphere of trade finance.

 

2009

MOST ACTIVE ISSUING BANK OF ARMENIA

Inecobank was recognized as the most active issuing bank by the European Bank of Reconstruction and Development (EBRD) within the scope of trade finance project.

 

2008

ISO 9001 standard

The Bank complied its activity with international standards of “ISO 9001” quality management system.

 

2008

RANKED THE 36TH PLACE AMONG 100 BEST MICROFINANCE ORGANIZATIONS

According to the analysis performed by “MIX (Microfinance Exchange) 2008” INECOBANK CJSC ranked the 36th place among 100 best microfinance organizations of developing countries.

 

2007

MOST ACTIVE BANK IN THE SPHERE OF TRADE FINANCE IN ARMENIA

AInecobank was recognized as the most active bank in the sphere of trade finance in Armenia by the European Bank of Reconstruction and Development (EBRD).

 

2005

WINNER OF “CORPORATE GOVERNANCE” AND “CONSUMER LENDING” NOMINATIONS

“ArmInfo” news agency recognized INECOBANK to be the winner of “Corporate Governance” and “Consumer Lending” nominations.

 

2004

INCLUDED IN THE LIST OF 20 FASTEST GROWING BANKS IN CENTRAL EUROPE AND CIS

According to the analysis of prominent “The Banker” magazine, INECOBANK was included in the list of 20 fastest growing banks in the Central Europe and CIS countries thus ranking the 1st place amongst the Armenian banks.

 

2001

BEST DEALER IN THE RA DOMESTIC STATE DEBT

Inecobank was distinguished as the best dealer in the RA domestic state debt management market by the RA Ministry of Finance and Economy and Central Bank of Armenia.

 

Updated as of 07.05.2021 15:18