Location: Yerevan, Armenia
Region: Eurasia - Eastern Europe and Central Asia
Neighboring Countries: Turkey, Azerbaijan, Iran, Georgia,
Population: 3,215,800
GDP Per Capita (PPP): $5,700 (2006 est.)
Politics: Presidential representative democratic republic
Economy:
- GDP growth: 13.4% (2006 est.)
- Composition of GDP: Agricultural (17.7%), Services (40.3%) and Industrial Sectors (42%)
- Main Agricultural Products: Fruit (especially grapes), vegetables, and livestock
- Main Industries: Diamond-processing, metal-cutting machine tools, forging-pressing machines, tires, textiles, chemicals, trucks
- Significant Trading Partners: Germany, Russia, Belgium, Russia, Israel, United States
Source: Wikipedia
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Client Banks / InecoBank, Armenia
InecoBank, Armenia
Website: http://www.inecobank.am/
Bank Description:
InecoBank was registered as a bank in February 1996 in Armenia and now operates four branches. It strives to assist the development of its customers’ businesses and to expand and improve the range and quality of its banking services. InecoBank provides a full range of banking services including consumer and corporate loans, guarantees, letters of credit, deposit accounts, payment cards and remittances.
InecoBank is ranked as one of the 10 largest banks in Armenia by return on assets and capital and is the leader in credit sales financing. In addition, The Banker magazine listed InecoBank as one of the top 20 fastest-growing banks in Central Europe and Newly Industrialized States and the bank ranks number one among Armenian banks participating in the analysis. The bank is characterized by a dynamic growth rate, flexible management, creativity and skilled personnel.
- Risk Management
- Governance
Key Accomplishments in Partnership with Exchange:
- Implementing a performance management and incentive system
- Improving the bank's ability to mobilize local deposits
|
Financial Performance |
2006 |
2007 |
|
Net Loans Outstanding (in mil) |
$33.3 |
$68.7 |
|
Total Deposits (in mil) |
$35.0 |
$47.1 |
|
Return on Average Assets |
5.2% |
3.9% |
|
No. of Borrowers |
30,098 |
40,000 |
|
No. of Depositors |
N/A |
N/A |
|
No. of Branches |
5 |
5 |
|
No. of Employees |
231 |
287 |
|
No. Development Loans |
||
|
- Year to Date |
NA |
NA |
|
- Cumulative |
NA |
NA |
|
Fx Rate (Dram/$): |
363.5 | 304.2 |
N/A - Not Applicable
NA - Not Available
