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DREAMING BEYOND...
Ineco Group is a company operating in financial services, fintech solutions and investment sectors across different geographies. Ineco Group is the parent company of Inecobank, one of the largest banks based in Yerevan, Armenia. Today we are a dynamically growing group that focuses primarily on long- term investments in various industries. The main pillars of our business are financial services, fintech solutions and portfolio investments.
We proactively identify and pursue growth opportunities within our existing markets while strategically exploring new ones. By adhering to a disciplined and responsible investment approach, we achieve sustainable long-term growth and maximize returns. This commitment enables us to deliver consistent high-yield dividend payouts, ensuring long-term value creation for our shareholders.
As of December 31, 2024, Ineco Group’s total assets under management amount to USD 2 billion. The founder and owner of the Ineco Group is Avetis Baloyan.
Our History
Establishment of a holding company and creation of Ineco Group represent a strategic consolidation of our businesses, driving greater synergy and growth across all business assets.
OUR FOCUS REGIONS
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WESTERN EUROPE
EASTERN EUROPE
CAUCASUS REGION
CENTRAL ASIA
By entering a new country, we aim to assess the potential that can enhance our existing portfolio of products and clients. Our goal is to identify market opportunities that can be captured in a sustainable way. Leveraging cross-synergies of capital and expertise is key to maximizing returns. We explore various financing options, including international financing, debt, and equity investments in joint ventures with our partners.
CHAIRMAN AND FOUNDER OF INECO GROUP
AVETIS BALOYAN
Born in Georgia to an Armenian family, on January 22, 1954, Mr. Baloyan started his career in the IT sector as a software developer in the 1980s and founded his own software development company in 1985. In 1992 he made a career shift and joined Ukrainian Inco Bank’s Armenian branch as general manager.
He has dedicated his career to banking industry ever since and in 1996, he co-founded Inecobank CJSC with fellow shareholders, establishing a robust banking enterprise that has significantly contributed to regional development. His enduring legacy now forms the solid foundation upon which the Ineco Group continues to build and expand.
GROUP EXECUTIVE COMMITTEE
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DAVIT BALOYAN
Group CEO
With 20 years of expertise in the financial industry Davit's visionary approach, coupled with his extensive experience in finance and technology, bring knowledge and strategic insights in navigating the evolving financial landscape. He holds an MBA from the University of St. Gallen, Switzerland.
ANNA BALOYAN
Director of People & Culture
Anna has 25 years in financial services industry. She has extensive experience in building corporate culture in international companies.
DMYTRO TOLSTYK
Director of International Business
Dmytro has 20 years of experience in international banking & consulting and holds MBA degree from St Gallen University, Switzerland.
HAYK VOSKANYAN
Head of Armenian Business
Hayk is CEO of Inecobank and has 25 years in banking and asset management industry. He holds PhD in Economics and has received CFA.
ARTEM CHICHYAN
Director of Corporate & SME Business
Artem has 25 years of experience in banking industry and holds MBA degree from University
of Sheffield, UK.
ARMAN POGHOSYAN
Delivery Director​
Arman has 20 years of experience in delivering complex transformational programs for global corporations in different industries & regions.
DREAMING BEYOND THE HORIZON,
EMPOWERING SUSTAINABLE GROWTH.