About Us
In the fall of 1997, United Methodist Committee on Relief (UMCOR) established the AREGAK microfinance program, with the purpose to create economic opportunities for low income people who have no or limited access to the formal financial sources, especially in the remote rural areas.
The microfinance program rapidly became the largest MFI in Armenia in terms of number of active clients.
In March of 2006 Aregak was registered as a Universal Credit Organization structured as a Closed Joint Stock Company with UMCOR as the sole shareholder.
Today Aregak provides a broad range of financial services to the population without compromising the social aspects of its mission and continues initiatives geared toward the fulfillment of its social goals.
Currently Aregak is the only credit organization in Armenia which has a country-wide branch network throughout Armenia and Nagorno Karabakh. Aregak has
- 215 employees
- 26 101 clients
- 571 communities served
- 23 branches
- 6 representative offices
- Total capital of the organization is 2,669,030,000 AMD
- Assets of 9,451,551,000 AMD
- Liabilities of 6,782,521,000 AMD
- Loan portfolio of 7,622,099,000 AMD