Ameriabank attracts $150 million from international lending organizations to finance small and medium-sized businesses
01.10.2014,
18:34
Ameriabank has attracted so far a total of $150 million from international lending organizations to finance Armenia’s small and medium-sized businesses, the bank’s CEO, Artak Hanesyan, said today at an EBRD-held trade finance conference in Yerevan.
YEREVAN, October 1. / ARKA /. Ameriabank has attracted so far a total of $150 million from international lending organizations to finance Armenia’s small and medium-sized businesses, the bank’s CEO, Artak Hanesyan, said today at an EBRD-held trade finance conference in Yerevan.
He said the bank saw its trade financing increase by 43% in 12 months and by 17 percent this year, while the amount of factoring transactions surged by 124% in 12 months and their number grew by about 50%.
According to him, the demand for financing factoring transactions, especially international factoring transactions is on the permanent rise.
"Today international factoring in Armenia has great growth prospects, contributed by the growth of exports,” said the banker.
Suren Kocharyan, the head of the bank’s trade finance department, said the bank’s trade finance instruments compared to the traditional tools are more accessible, offering more flexible conditions for importers and exporters.
He predicted also a serious increase in export transactions next year because of Western sanctions against Russia. He said Ameriabank expects its trade financing to jump by 50% in 2015.
As of late April the bank had attracted a total of $273 million from international lending organizations lending the bulk to small and medium-sized businesses.
Ameriabank is a universal bank that provides investment, corporate and retail banking services in the form of a comprehensive package of banking solutions. It is the first investment bank in Armenia that has been providing a wide range of innovative banking services since 2007.
The bank's assets as of July 1, 2014 amounted to 342.7 billion drams (an 8.8% growth from the beginning of the year), its liabilities stood at 302.5 billion drams (up 9.48%), the capital – at 40.2 billion. drams (up 3.9%). The bank earned 2.8 billion drams in profit in the first half (the second largest among local commercial banks). -0--
