YEREVAN, February 26. /ARKA/. Ameriabank’s factoring receivables assigned rose by 3.7 times in 2012 to nearly 7 billion drams, the bank said Tuesday.
The number of factoring operations climbed by nearly 47% in 2012 fr om a year earlier. Thus, domestic factoring operations accounted for 91%, and international factoring operations—9%.
Ameriabank forges ahead in the number of factoring operations in Armenia recording the highest factoring transaction growth among the other Armenian banks in 2012.
“Ameriabank became a member of the largest international factoring union Factors Chain International in January 2013. The membership made it possible for the bank to expand international factoring services and create various opportunities for the clients to enlarge their business through collaborating with new partners in over 80 countries worldwide,” according to the source.
Ameriabank Factoring Department head Angela Khachatryan noted imports accounted for 29% of the bank’s factoring financing , wholesale trade—for 24%, production—15%, construction—14%, construction and mounting works—11%, electricity generation and services accounted for the rest.
According to her, the factoring market of Armenia has a great development potential.
“Day by day, the demand of companies for factoring services is growing. The factoring services, as the experience shows, are considered as a faster and more efficient financing tool,” she said.
Khachatryan also said the bank doesn’t offer limited standard solutions, but uses individual approach to each customer introducing all privileges of factoring and rich international experience.
The bank is determined to continue domestic and international factoring operations this year expanding the spheres which will be financed, she resumed.
Ameriabank is a universal bank providing investment, corporate and lim ited retail banking services. Ameriabank is the first investment bank in Armenia. It has been offering a broad range of innovative banking services since 2007.—0-