YEREVAN, December 14. /ARKA/. Taron Ganjalyan, executive director of Inecobank, which bought 100% of ProCredit Bank’s shares on Thursday, told journalists that the ProCredit Bank’s team will continue working.

Inecobank has bought 100% of ProCredit Bank, a subsidiary of ProCredit Holding AG & Co. KGa A.

The deal is financed from capital investments of the European bank for Reconstruction and Development (EBRD), replenishment of Inecobank two large shareholders' capital and the $20 million attracted from the International Finance Corporation.

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Inecobank has bought 100% of ProCredit Bank, a subsidiary of ProCredit Holding AG & Co. KGa A

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The rumors going around about Inecobank’s intention to buy ProCredit Bank have been denied by both banks

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Armenian Inecobank has introduced a new remote control application InecoMobile that allows its customers to manage their accounts via smartphones and tables from anywhere in the world 24 hours a day

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Armenian Inecobank has signed a $10 million loan agreement with the European Bank for Reconstruction and Development (EBRD) as part of a new lending program designed for energy-efficient SMEs

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Armenian Inecobank and GNC-ALFA telecom company (trading as Rostelecom) have jointly issued a new credit card for current and new customers of Rostelecom for getting credit lines on favorable terms, Inecobank said in a press release today

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The chief cashier of Armenia’s Inecobank, 55-year-old Levon Avetisyan was killed, within sight of his wife, in Arinj village of Armenia’s Kotayk yesterday, Pastinfo.am legal information website reported

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Armenian Inecobank said today it has signed a five-year $10 million loan agreement with the Austrian Bank of Development (OeEB) for financing small and medium enterprises in Armenia

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Armenian Inecobank said it has signed a five million USD loan agreement with the Black Sea Trade and Development Bank (BSTDB). These funds will be used to finance small and medium enterprises, ‘which is a strategic direction for Inecoban,’it said in a statement

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Interbank loans, including repo transactions, amounted to over 44.3 billion drams as of the end of July 2013, a reduction of 27.2% compared to June, says monthly information bulletin of the Central Bank of Armenia for July 2013

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Tags: Armenia, DRAMS, Inecobank

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