Inecobank Named Most Active Issuing Bank in Armenia

RIA Oreanda, Russia
April 23 2010

Inecobank Named Most Active Issuing Bank in Armenia

Yerevan. OREANDA-NEWS . April 23, 2010. Within the framework of trade
finance EBRD recognized Inecobank as the Most active Issuing Bank in
Armenia in 2009. The Awards ceremony will take place at the Annual
General Meeting of the Shareholders of EBRD in Croatia on May 15,
2010, reported the press-centre of Inecobank.

Inecobank provides trade finance since 2005 and offers its clients the
following trade finance tools: letters of credit, guarantees, purchase
order finance and trade finance loans. Guarantees and letters of
credit are inexpensive and very convenient tools for international
trade finance. They are designed to finance export/import of goods, to
cover the advance payment and realize the agreement.

It is worth to mention that in 2007 EBRD recognized Inecobank as The
best trade finance bank in Armenia.

I think Inecobanks success is associated with its flexible policy,
particularly when it provides trade finance tools and tries to utmost
satisfy customer needs while realizing so called Structure Finance, –
states Inecobanks deputy head of credit department Vaghinak
Khachatryan.

During 2009 Inecobank provided 4 mln USD for trade finance, where 1.5
mln USD have been approved by EBRD. Within the framework of trade
finance Inecobank cooperates with a number of other international
organizations such as the OPEC Fund for International Development,
Commerzbank and Atlantic Forfaitierungs AG.

From: Emil Lazarian | Ararat NewsPress

Emil Lazarian

“I should like to see any power of the world destroy this race, this small tribe of unimportant people, whose wars have all been fought and lost, whose structures have crumbled, literature is unread, music is unheard, and prayers are no more answered. Go ahead, destroy Armenia . See if you can do it. Send them into the desert without bread or water. Burn their homes and churches. Then see if they will not laugh, sing and pray again. For when two of them meet anywhere in the world, see if they will not create a New Armenia.” - WS