YEREVAN, July 22. / ARKA /. Ameriabank’s net profit in the first six months of 2014 increased by 3% to 2.9 billion drams, the banks’ financial director, Gevorg Tarumyan, told a news conference today which he called to speak about the indicators of the first half.
"At first glance this figure looks modest, but not when we compare it with a 13.6 percent combined drop posted by the country’s banking system," Tarumyan said.
According to him, Ameriabank’s all growth rate indicators significantly outperform the growth rate of the banking system.
He said Ameriabank’s assets in the first half of 2014 increased by 9% to 343 billion drams, while the overall banking system saw a 0.7 percent decline. Also the bank's total commitment in the first half rose by almost 10% to 303 billion drams, while the banking system reported a 2 percent drop.
"Both in terms of assets size and liabilities Ameriabank is the leading bank in Armenia," he said.
According to him, the bank’s credit portfolio increased by about 9% to 192 billion drams placing it second among all 21 local commercial banks by size of loan portfolio.
"We are particularly pleased by a 15 percent rise in lending to small and medium-sized businesses, which is our target segment,” Tarumyan said.
As of June 30, the bank’s SME loan portfolio stood at 38 billion drams, he explained.
He said also a 30 percent surge was recorded in liabilities which rose to 221 billion drams.
"This is a very important indicator because it reflects the degree of confidence of our clients in the bank," Tarumyan said.
In particular, term deposits of individual customers amounted to 75 billion drams, an increase of 11 percent in six months but when compared with same period in 2013 the rise is 33 percent, he said.
Ameriabank CJSC is a universal bank offering corporate, investment and retail banking services in a comprehensive package of banking solutions. ($ 1 - 406.84 drams). -0 –