By the beginning of the tourism season, Areximbank- Gazprombank Group offers significant discounts of premium class chip cards. The Bank has told ArmInfo that from June 27 till September 30 all Areximbank-GPB Group customers, who acquire insurance policies to leave abroad, will be offered premium class chip cards - MasterCard Gold and VISA Gold - with a 50% discount in the currency indicated by the customers (USD, EUR, RUR, AMD).
In the nearest future ARARATBANK will hold additional closed issue of stocks, as a result of which the amount of total capital will increase by 8.5 bln drams from the current 22.7 bln drams.
The business associations of Armenia, particularly, American Chamber of Commerce in Armenia, Union of Banks of Armenia, Union of IT Enterprises, Union of Employers of Information and Communication Technologies, Taxpayers Rights Protection NGO, European Business Association Armenia, are concerned over the fact that the Armenian Government approved and the Armenian Parliament adopted the draft Tax Code in the first reading. In a letter addressed to the President and the Heads of the Government and the Parliament, they say that the draft code levels the main idea of the tax legislation, i.e. the idea of improving the investment environment in Armenia.
Armeconombank will launch its 13th issue of shares in the amount of 5 bln AMD by market value or 856.2 mln AMD by nominal value starting from June 17. The press-service of the bank has told ArmInfo, that 342466 of ordinary shares will be issued. The nominal value of each share is 2,500 AMD, offer price 14600 AMD. It is planned to finish placement of shares on September 30, 2016. The Central Bank of Armenia has registered the prospectus on June 8.
ACBA-Credit Agricole Bank and Export Insurance Agency of Armenia (EIA) sign memorandum of cooperation based on which the bank will finance the enterprises exporting products via insurance declarations issued by the EIA (in case of export on condition of payment delay), the press-service of the bank informs.
The European Bank for Reconstruction and Development (EBRD) plans to invest up to CAD 10.5 million to purchase Lydian International's shares as part of its capital increase. The funds will be used to finance the Environmental and Social Mitigation Measures (ESMM) undertaken as part of the Amulsar Gold Project in Armenia.
ACBA-Credit Agricole Bank has launched an ACBA Ticket free mobile application (https://www.acba.am/hy/news/acba-ticket-launch), aimed at ensuring efficient customer service at the branches of the Bank. The press office of ACBA-Credit Agricole Bank has told ArmInfo that with the help of this application a customer can choose a specific branch in Yerevan, select the necessary service, indicate the convenient date and hour of service and visit the branch on that very day and at that very time. The coupon number will appear on the screen under the letter "M". The given app will allow the customer to save time.
Areximbank-GPB Group has summed up the results of "8 gifts by March 8" campaign conducted jointly with MasterCard. The press office of the Bank has told ArmInfo that prizes were raffled off among the female cardholders whose shopping made with cards from March 9 till May 5 totaled the biggest sums.
By 1 April 2016, the amount of the overdue loans in Armenian banks grew by 22.5% over year to 45.4 bln AMD. According to the Armenian Central Bank's data provided to ArmInfo by the National Statistical Service of Armenia, the amount of extended loans totaled 114 bln AMD, with a 12.9% year-over-year decline.
Two-fold growth of applications for restructuring of loan debt has been registered in VTB Bank (Armenia) in Q1 2016 versus Q1 2015. As the press-service of the bank told ArmInfo, the two-fold growth was registered also in terms of approved applications, while the number of refusals from restructuring by the clients reduced to 57%. This testifies that more and more number of borrowers realizes that solving problems on the early stages is one of the most efficient mechanisms of financial recovery.
20% of the expenditures of the state budget 2016 (1 trillion 373.7 bln AMD) will be spent on serving the state machine's needs. It is inexpedient and it is necessary to put an end to it, economist Vardan Bostanjyan told reporters on May 23, when commenting on Armenian Prime Minister Hovik Abrahamyan's statement about the need to save public funds.
ACBA Leasing company is participating as financial partner in the Week of Economic Capacities, which is being held in Yerevan on May 19-22 within the German Society for International Cooperation (GIZ) "Private Sector Development in the South Caucasus. Economic Integration of Syrian Armenians" Program, Marketing Specialist of ACBA Leasing Julia Nickoghosyan told ArmInfo's correspondent on May 20.
Names of four winners of "Certification of Organic Agricultural Product" contest are known. ACBA-Credit Agricole Bank and Nature and Biodiversity Conservation Union (NABU) held the contest. As the press-service of the bank informed ArmInfo, "Mer Sarer" LLC (production of honey), "Mega Ararat" company (gathering of mountainous fruits and plants, production of tea), "Armberry" (raising of raspberry) and private entrepreneur Vahagn Hakobyan (raising of blackberry) are the winners.
ACBA-Credit Agricole Bank will hold a free business seminar for the heads of SMEs on May 24-27, the Bank's press-office told ArmInfo. According to the source, the seminar will cover 5 key topics, offering theoretical knowledge and practices for optimal business management and use of a number of marketing instruments. The upcoming seminar will be dedicated to "Optimization of Business Management" and "Practical Marketing", but the list of the topics will shortly be expanded.
VTB Bank (Armenia) retains leadership on the plastic cards market in terms of both the number of cards and amount of transactions. By 1 April 2016, the number of active cards of the Bank totaled 496.6 thsd, with the total amount of transactions exceeding 210.3 bln AMD. The press office of the Bank has told ArmInfo that the Bank retains leadership by not only the total number of plastic cards but also by Visa cards - over 418.2 thsd as of 1 April 2016. At the same time, the Bank is among the TOP-3 by the number of MasterCards - over 78.3 thsd.
Under its corporate social responsibility program, VTB Bank (Armenia) has provided financial assistance to 60 children suffering from infantile cerebral palsy (ICP). These children are from vulnerable families and under care of "Hay Mayrer" ("Armenian Mothers") public organization. The Bank's press-office told ArmInfo, the Bank funds restorative water therapy for the children.