Factoring transactions of Ameriabank rose by 66% to $31 million in 2013

Factoring transactions of Ameriabank rose by 66% to $31 million in 2013

YEREVAN, June 23. /ARKA/. Factoring transactions by Ameriabank rose by 66% to $31 million as of the end of 2013 compared to 2012, head of corporate transactions at Ameriabank Gagik Sahakyan said at the summing-up of the 2013 transactions.

The bank effected 675 factoring deals in 2013, of them 77% were local transactions.

Sahakyan stressed Ameriabank provides about 45% of factoring deals in Armenia.

The head of corporate transactions said the bank has a $40mln credit limit in the EBRD for promotion of factoring.

EBRD expert Michael Travis said he is happy Armenia’s factoring market is developing. The global factoring market recorded a four-time growth in the last decade, and Europe accounts for 65% of factoring services, but the market is currently developing toward other countries.

Prizes were handed to the best clients and creditors of the bank, including for the first factoring deal and the first international factoring deal based on double factoring model.

Corporate Intl Magazine named Ameriabank the best bank in Armenia in 2013 in terms of factoring services.

Ameriabank is a universal bank that provides investment, corporate and retail banking services in packages. The bank was the first investment bank in the country and has been providing a wide range of innovative banking services since 2007.

The assets of the bank rose by 8% to 339 billion drams in the first quarter of 2014. Total liabilities hiked by almost 9% to 300 billion drams. The bank recorded a 2.5% increase in its loan investments as of the end of Q1. The loan portfolio of the bank was 181 billion drams in Q1. -0–

15:06 23.06.2014

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