With the support of its long-standing partner, Symbiotics Investment SA (Switzerland), Ipak Yuli Bank has established cooperation with Inecobank CJSC (Armenia), a member of Ineco Group (Armenia), and signed an agreement to attract a USD 10 million credit line. 

Negotiations on arranging the credit line were initiated by the Bank in cooperation with the Switzerland-based investment company Symbiotics Investment SA. Acting as the financing arranger, Symbiotics Investment SA supported the transaction at all stages. 

The signed agreement represents the first step toward developing direct cooperation between the two banks and creates a solid foundation for further expansion of partnership relations. 

"Our long-standing partnership with Symbiotics has once again delivered strong results. With its support, cooperation with Inecobank was established, and an agreement was signed to secure a USD 10 million credit line aimed at supporting micro, small, and medium-sized enterprises. We look forward to further deepening our cooperation with both partners to promote sustainable business growth." – stated Saidabror Saydakhmedov, Chairman of the Management Board of Ipak Yuli Bank. 

"At the end of this year we mark another significant milestone in cross-border investments. This deal is the first step in collaboration between Inecobank and Ipak Yuli Bank, and we are glad to partner with Symbiotics to ensure cross-border synergies in financing." – commented Dmytro Tolstyk, Director of International Business at Ineco Group. 

"Symbiotics has provided funding facilities to Inecobank since 2010, and now our long-lasting partner has moved from a role of Investee to Investor. This transaction arranged between the two banks is among the first of its kind, where Symbiotics acted as a loan originator for the whole process. We are looking forward to build more new business relations among our existing partners" – noted Alexandr Fando, Regional Manager for Caucasus and Central Asia at Symbiotics Investments. 

ABOUT INECOBANK 

Inecobank CJSC is a leading financial institution in Armenia and the South Caucasus, providing a full range of banking services to individuals, small and medium-sized enterprises (SMEs), and corporate clients. Since 1998, the bank has been cooperating with over 30 leading international financial institutions and maintaining correspondent relationships with top-tier banks worldwide.  

In 2024, Ineco Group was established as the parent company of Inecobank to consolidate and lead the Group’s financial services, fintech, and investment ventures under a unified structure. The Group's portfolio spans banking, leasing, and digital platforms, with operations across the Caucasus, Central Asia, and Europe.

 More details: https://www.inecobank.am/en/about-inecobank & https://www.inecogroup.am 

ABOUT SYMBIOTICS 

Symbiotics is the leading market access platform for impact investing, dedicated to private markets in emerging and frontier economies. The group offers investment, asset management and capacity building services. Since 2005, Symbiotics has originated over 8,200 investments representing more than USD 10.5 billion for 608 companies in 99 countries. It manages an aggregate portfolio of USD 2.5 billion spread across 19 funds and mandates. Its portfolio companies have also benefited from over 170 technical assistance projects worth more than USD 19 million. 

More details: https://symbioticsgroup.com/