New favorable loan conditions are announced by Inecobank

PanARMENIAN.Net - Inecobank announces new beneficial conditions for loans Express and Micro by July 19, press office of the Inecobank reports. Micro loans up to 30 thousand for 19 month will be provided in USD and euro. 30 to 50 per cent of the Express loan can be provided in AMD at 24 per cent annually.



Inecobank was established in February of 1996 and is currently offering the full range of banking services through its Head Office and branches in Yerevan and regions of Armenia.



Among major foreign shareholders of the bank are KfW bank group member German investment company Deutsche Investitions- Und Entwicklungsgesellschaft. As of March 31, 2009, total capital of the bank amounted to about AMD 9.36 billion, and total assets exceeded AMD 48.4 billion.



Since May 11 nominal bonds issued by the bank are listed and included in bond list of NASDAQ OMX Armenia. The issue comprises 7,000 bonds with nominal value AMD 50,000, maturity 365 days and annual yield of 9.5%. The issue is traded under ENECB1 ticker symbol, reported the marketing service of NASDAQ OMX.