Ameriabank expects its profit to grow by 18% this year - CEO

Ameriabank expects its profit to grow by 18% this year - CEO

YEREVAN, January 31. / ARKA /. Ameriabank CEO, Artak Hanesyan, said today the bank expects its profit to grow this year by 18%. Speaking at a news conference he said the bank earned 6.2 billion drams in net profit last year.

He said the profit growth is to be achieved by increasing the lending to businesses and buying more bonds, including also Eurobonds, which are already trading at NASDAQ OMX Armenia exchange.

According to him, the bank expects its assets to grow in 2014 by 10% and will also focus attention on improving their efficiency to boost financial performance.

Hanesyan said  lending is expected to surge by 22 %, including a 31% rise in lending to small and medium-sized businesses. Retail lending will grow by 30 percent.

"We are working to simplify lending terms and offer more letters of credit, guarantees and factoring operations to companies engaged in trade,” he said.

The bank also expects its term deposits to grow by 8% in 2014. It will open two branches this year, one in Gyumri and the other in Yerevan.

Ameriabank is a universal bank providing investment, corporate and retail banking services. -0-

19:00 31.01.2014

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