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Advantages
Fincoo.am – we offer only fair mediation. By contacting us, you will receive a personalized approach. In the case of a positive credit history or at least the complete absence of a credit history, we will offer the optimal ways to obtain a credit.
Privacy
We do not record or use any information about applicants that becomes known to us.
Quick response
Upon receiving the application during working hours, the average response time is 5 minutes.
Without a down payment
Customers pay for our services only in case of a successful transaction.
Without bureaucracy
For a standard credit application, only two documents are required.
Credits types
For our clients, in case of a positive credit history or its absence, several types of credit products are available. Please note that in case of a negative credit history, we generally do not consider the application. Exceptions may include credit applications with collateral of gold, a car, or real estate.
Consumer credit
A passport and social security card are required.
Credit without property or collateral
A passport and social security card are required.
Credit against gold items as collateral
A passport and social security card are required.
Car credit
A passport and social security card are required.
Online limit request
Frequently asked questions
We do not provide any type of credits. The Fincoo.am platform is designed for submitting credit applications, allowing us to offer you consultation on potential loan opportunities.
Based on the received data, our specialist analyzes your creditworthiness potential. Afterward, we confirm the feedback or provide full consultation. Once mutual agreement is reached, we sign the contract and assist you in obtaining the desired loan.
In most cases, it is not possible to obtain a credit with a negative credit history. However, exceptions may apply in the case of car credits or credits secured with gold items, if you choose to work with lending institutions.
News
The economic activity index in Armenia has increased.
In January-February 2025, the economic activity index in Armenia increased by 4.1%.
The economic activity index in Armenia has increased.
In January-February 2025, compared to the same period of the previous year, the economic activity index in Armenia increased by 4.1%, and in February 2025, compared to February 2024, the index increased by 1.5%.
According to the preliminary key macroeconomic indicators from the latest operational summary on Armenia’s socio-economic status published by the Statistical Committee, in January-February 2025, compared to the same period last year, the volume of industrial production decreased by 19.4%, while the volume of construction increased by 12.2%.
Trade turnover increased by 7.8%, and the volume of services excluding trade grew by 12.4%. Electricity production increased by 6.9%. The consumer price index grew by 2.1%, and the industrial production price index increased by 2.2%.
The volume of foreign trade turnover decreased by 52% during the reporting period. Specifically, the volume of exports decreased by 59.7%, while imports decreased by 45.8%.
Source: Banks.am
Banks' net profit has increased
In the 9 months of 2024, the net profit of Armenian banks has increased by 25%.
Banks' net profit has increased
In the first 9 months of 2024, the total net profit of banks operating in Armenia amounted to 268 billion AMD, which is 53 billion AMD or 25% more than the result recorded in the same period of 2023.
According to preliminary forecasts, the return on equity (ROE) of the Armenian banking system will be around 20% in 2024, while net profit will be approximately 900 million USD. During the mentioned period, all 18 banks recorded a profit. The highest profit was recorded by Ardshinbank—about 82.6 billion AMD. Ardshinbank is also the leader in terms of total assets.
Consumer and Mortgage Credits
Consumer and mortgage credits are the growth leaders
Consumer and Mortgage Credits
According to the Central Bank, as of the end of October 2024, the total volume of credits issued to residents in Armenian banks amounted to about 6 trillion AMD. Compared to the end of October of the previous year, the volume of loans increased by 1.1 trillion AMD or 23.1%. These figures include the current loan volumes, meaning previous repayments have been deducted.
In the banks' credit portfolios, consumer and mortgage loans have the largest share today. Moreover, the credit portfolios of these two sectors are growing quite rapidly and are interconnected. Meanwhile, business credits lag behind in terms of growth rates. The total volume of mortgage loans alone amounts to 1.3 trillion AMD, or one-fifth of all loans. Over the course of a year, the volume of mortgage loans has increased by 292 billion AMD or 28.5%.
The government forgives hopeless small credits
The government forgives some hopeless borrowers
The government forgives hopeless small credits
The government has decided to provide financial support to 218,000 citizens who took credits from banks and, failing to repay them for years, became hopeless borrowers. If they find employment, their income tax will be directed not to the state budget, as with other citizens, but to repay their credits. The idea belongs to the Ministry of Labor and Social Affairs. On December 12, the government approved the program titled "Economic Activity Stimulation Program for Individuals with Hopeless credits."
Some citizens see social injustice in this program, the repayment of debts of irresponsible borrowers at the expense of conscientious taxpayers, serving the interests of banks once again, and even possible election bribery. The program's authors and members of the ruling faction in the National Assembly, Babken Tunyan and Sisak Gabrielyan, respond by calling such comments manipulation and absurdity.
The program targets citizens whose credits have been classified as hopeless for more than 3 years. Moreover, their total obligations on the principal amounts of loans should not exceed 1 million AMD. About 218,000 people are included in this target group. These are potential beneficiaries who may apply for the program.
What users say about our services
Ani
The organization helped us obtain the much-needed funds for medical purposes with lightning speed. The entire process took only 4-5 hours.
Aram
The car I wanted to use as collateral was a bit old. I applied to Finko. They arranged everything quickly. Moreover, the car stayed with me. Thank you.
Teresa
I hadn't been able to gather the rent. There was a risk of being evicted. Since I didn't have a credit history, everyone was rejecting me. A big thank you to employee Vahram for the quick response and help.