Evoca has raised AMD equivalent of USD 2 million from Symbiotics Investments
The loan funds received from the Swiss investment company will be directed to the financing of micro, small and medium businesses in Armenia.15.11.2023
Evocabank has raised equivalent to the USD 2 million in Armenian Dram from the investment funds managed by the Swiss-based Symbiotics Investments. Attracted financial means will be directed towards the development of micro, small and medium-sized businesses in Armenia. This initiative aims to enhance the business environment within the market by fostering healthy competition, thereby stimulating economic activity in the country.
By the way, as of 30․09․2023, Evocabank’s MSME loan portfolio stood at about 59 billion AMD, registering a 34% increase compared to the end of 2022.
Evocabank continuously cooperates with international organizations, creating favorable development conditions for micro, small and medium businesses.
By being a mobile-first bank, Evocabank provides fast, simple and innovative services and is distinguished by the active use of the latest information technologies. The Bank has been named “The Best Consumer Digital Bank in Armenia” for the 7th year in a row by Global Finance prestigious financial magazine. The Bank continuously invests and implements innovations, offering clients the best solutions of the latest technologies. Evocabank is the first commercial bank registered in RA in 1990 and currently has a head office and 13 branches.
About Symbiotics Investments:
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 Investments has originated over 7,700 investments representing more than USD 9.6 billion for 579 companies in 95 countries.