Ameriabank awarded The Banker’s "Best Bank of 2019" in Armenia award
02.12.2019,
10:24
Ameriabank was awarded the "Best Bank of 2019" in Armenia award by The Banker, owned by The Financial Times. The press service of the Armenian bank said it was awarded by The Banker for the sixth time (in 2010, 2013, 2015, 2016 and 2017).
YEREVAN, December 2. /ARKA/. Ameriabank was awarded the "Best Bank of 2019" in Armenia award by The Banker, owned by The Financial Times. The press service of the Armenian bank said it was awarded by The Banker for the sixth time (in 2010, 2013, 2015, 2016 and 2017).
According to The Banker, in a competitive Armenia country category, Ameriabank’s exceptional growth metrics over the 2018 review period, coupled with the adoption of innovative new products and services, ensured that the bank emerged victorious. Net profits grew by 37.3% in local currency terms, while total assets and Tier 1 capital expanded by 15.1% and 28.1%, respectively. Notably, the bank’s net profits grew by double digits in both 2017 and 2016. This performance has contributed to Ameriabank’s impressive growth in return on equity, which by the end of 2018 had increased to 12.6% from 10.2% in 2016. Over the same period, its cost-to-income ratio fell from 4.2% to 3.3%.
Ameriabank has also worked hard to improve its product offerings. An individual applying for a loan with a value of between 100,000 dram and 10,000,000 dram ($209 and $21,000) can now do so entirely online, thanks to the bank’s score modelling system. This offering was highly successful in 2018, accounting for 25% of the bank’s consumer loans by total volume. In light of this achievement, Ameriabank made further improvements to the scoring system in order to offer the online loan platform to small and medium-sized enterprises.
On the digital banking front, Ameriabank enjoyed considerable transaction growth. The number of internet and mobile banking users grew by 40% in 2018, while the volume of transactions in these domains increased by 59% over the same period. In addition, transactions executed through digital self-service channels, such as express banking self-service kiosks, expanded by 46%.
In total, the share of transactions executed through digital or self-service channels reached 77% of the bank’s total transactions. “The factors contributing to our success are good customer experience, up-to-date methods and a professional team,” says Artak Hanesyan, general director at Ameriabank.
The Banker’s "Best Bank of the Year" award has been given for the 20th year in a row. This year prizes were awarded in 138 countries. The award ceremony remains one of the most respected in the world in this area. The jury of the publication was impressed by the efforts made by banks in terms of digital conversion and increased efficiency in order to move into a new era.
In 2019, The Banker also awarded the title of “Best Bank of the Year” to Commerzbank (Germany), Alfa-Bank (Russia), Agricultural Bank of China (China), Santander Group (Western Europe) and other financial institutions. --0---
According to The Banker, in a competitive Armenia country category, Ameriabank’s exceptional growth metrics over the 2018 review period, coupled with the adoption of innovative new products and services, ensured that the bank emerged victorious. Net profits grew by 37.3% in local currency terms, while total assets and Tier 1 capital expanded by 15.1% and 28.1%, respectively. Notably, the bank’s net profits grew by double digits in both 2017 and 2016. This performance has contributed to Ameriabank’s impressive growth in return on equity, which by the end of 2018 had increased to 12.6% from 10.2% in 2016. Over the same period, its cost-to-income ratio fell from 4.2% to 3.3%.
Ameriabank has also worked hard to improve its product offerings. An individual applying for a loan with a value of between 100,000 dram and 10,000,000 dram ($209 and $21,000) can now do so entirely online, thanks to the bank’s score modelling system. This offering was highly successful in 2018, accounting for 25% of the bank’s consumer loans by total volume. In light of this achievement, Ameriabank made further improvements to the scoring system in order to offer the online loan platform to small and medium-sized enterprises.
On the digital banking front, Ameriabank enjoyed considerable transaction growth. The number of internet and mobile banking users grew by 40% in 2018, while the volume of transactions in these domains increased by 59% over the same period. In addition, transactions executed through digital self-service channels, such as express banking self-service kiosks, expanded by 46%.
In total, the share of transactions executed through digital or self-service channels reached 77% of the bank’s total transactions. “The factors contributing to our success are good customer experience, up-to-date methods and a professional team,” says Artak Hanesyan, general director at Ameriabank.
The Banker’s "Best Bank of the Year" award has been given for the 20th year in a row. This year prizes were awarded in 138 countries. The award ceremony remains one of the most respected in the world in this area. The jury of the publication was impressed by the efforts made by banks in terms of digital conversion and increased efficiency in order to move into a new era.
In 2019, The Banker also awarded the title of “Best Bank of the Year” to Commerzbank (Germany), Alfa-Bank (Russia), Agricultural Bank of China (China), Santander Group (Western Europe) and other financial institutions. --0---
