U.S.-based Golden State Bank and Armenian Ameriabank open new page in Armenia-U.S. banking cooperation
YEREVAN, January 18. /ARKA/. The U.S.-based Golden State Bank and Ameriabank announced the signing of a memorandum of understanding, which seeks to establish closer collaboration between the two respected institutions and enables existing and prospective customers of the two banks to have access to each other’s markets and services, the banks said today in a joint statement. The memorandum was signed by Golden State Bank Executive Vice President Vigen Alex Hovsepian and Ameriabank CEO Artak Hanesyan.
Going forward, individuals and companies based in Armenia interested in accessing banking, real estate and /or business markets in California, will have a trusted banking institution in Golden State Bank through Ameriabank’s intermediation. Conversely, individuals and companies based in the United States of America will have access to Ameriabank’s products and services via Golden State Bank’s referrals.
This collaboration is the first such instance between an Armenia-based bank and a US-based commercial banking institution, and will offer unprecedented opportunity for individuals in and from Armenia to buy real estate in California and access a wide array of banking services through funding from Golden State Bank preliminary applying to Ameriabank.
Conversely, Golden State Bank will refer and act as an intermediary for US-based companies and individuals to apply to Ameriabank for financing for the purpose of starting or purchasing a business and real estate, and many other products and services (distance account opening, cards, deposits, etc.).
“We have good knowledge of and highly respect the Armenian banking sector. We have strong banking relationships in the Armenian American business community in Los Angeles. We are excited about our new relationship with Ameriabank which is one of the most respected and highly regarded banks in Armenia. We are looking forward to offer our clientele referral services and additional ease to invest and operate in Armenia, which will undoubtedly contribute to economic development and create new jobs in the country, at the same time offering services to entities in the Armenian market to access service areas and markets where Golden State Bank operates”, said Tom Byington, CEO of Golden State Bank.
“I highly value the new cooperation with Golden State Bank which will make it possible to bridge the distance between Armenia and California, enable both banks to expand and boost their business and open up access to real estate markets for businesses and individuals. Our collaboration will facilitate the expansion of cooperation between the two countries, in particular, building new business relationships with an important segment of the Armenian Diaspora”, said Artak Hanesyan, CEO of Ameriabank.
Ameriabank is a universal bank providing investment, corporate and retail banking services in a comprehensive package of banking solutions. It is the first investment bank in Armenia, which has been providing a wide range of innovative banking services since 2008.
Ameriabank's assets in the first 9 months of 2016 stood at 524.1 billion drams (1.6% growth from the beginning of the year, liabilities stood at 462.3 billion drams (1.27% growth), the capital was worth 61.7 billion drams (4.13% growth). The bank's profit for the same period amounted to 3.5 billion drams. Ameriabank is the first bank in Armenia that has exceeded the threshold USD one billion in assets.
Golden State Bank is a California-based (USA) full service bank, serving the business, commercial and professional markets. ($ 1 - 486.31 drams).