Inecobank CJSC is pleased to announce the appointment of Aram Kayfajyan as an Independent Member of the Supervisory Board.

Aram Kayfajyan is the Chief Executive Officer of Armenbrok ojsc since July 2004. Under Mr. Kayfajyan’s leadership the company’s shareholders’ equity increased 40 times, and assets, 200 times. Starting with 2010 to present he has been been teaching at the Russian-Armenian (Slavonic) State University. Since 2015 to present, Mr. Kayfajyan has also been serving as a Board member of “Ani Holding” international manufacturing and hotel management group. Since 2017 to date he has been the founding shareholder and a Board member of “Glocal Asset Management”.

Avetis Baloyan, Chairman of Inecobank Supervisory Board commented in his welcome speech: “We are delighted to welcome Aram Kayfajyan to Inecobank. He brings a wealth of experience in capital markets and a deep knowledge of the financial sector of Armenia and the banking system․ His presence in Supervisory Board will contribute to the sustainable development of Inecobank”.

Aram Kayfajyan, commented: “Inecobank’s development over the past years was very impressive. Today, with the diverse challenges facing the Armenian banking institutions, it is clear that the bank’s senior management team is determined to continue taking all the steps necessary and further bolster Inecobank’s leading position in the market. I am honored and excited to have this opportunity to serve as a member of the Supervisory Board and join efforts with what I consider one of the most professional teams in the industry. I will be happy to contribute all my skills and expertise for the benefit of the bank’s future”․

Mr. Kayfajyan will become the 3rd Independend member in a 7 member supervisory board of Inecobank with the other 4 seats occupied by the founders and investors of the bank.