Evocabank is named The Best SME Bank in Armenia by Global Finance magazine.

The bank said in a news release that the winners of the awards were selected by the editorial board of Global Finance, taking into consideration the data of insiders and technology experts of the field.

Winning banks were selected based on the following criteria:

•    knowledge of SME markets and needs

•    breadth of products and services

•    market standing

•    innovation

“Small enterprises are the lifeblood of economies everywhere, yet encompass a wide array of businesses, each with needs specific to their industry, sector and geography.

By identifying financial partners that focus on this segment and deliver for local clients on the ground, country by country as well as more expansively, Global Finance provides a unique service to savvy entrepreneurs seeking the next level of financial needs,” said Joseph Giarraputo, Global Finance’s publisher and editorial director.

By improving its procedures and introducing the latest technologies, Evoca offers its partners simple, innovative solutions for the development of their business.

Evocabank SME lending programs are:

Small and medium business lending

Small and medium business lending “Partner”

Loans provided within the framework of “GAF Energy Efficiency for SME”

Loans provided within the framework of the “European Investment Bank” program

“In 2021, IFC, the International Finance Corporation, and Evocabank, joined forces to support business, preserve jobs, and accelerate the recovery of Armenia’s economy. The $15 million loan provided by IFC enabled Evocabank to provide working capital and commercial loans to SMEs, especially in critical areas of the economy, including healthcare, food production, packaging, e-commerce and logistics.

This year, a new $15 million loan provided by IFC to Evocabank will help smaller business in Armenia thrive, support growth and job creation amid the lingering impacts of COVID-19.
 
Global Finance, founded in 1987, has a circulation of 50,000 and readers in 193 countries. Global Finance’s audience includes senior corporate and financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions. Global Finance regularly selects the top performers among banks and other providers of financial services. These awards have become a trusted standard of excellence for the global financial community.