Ameriabank increases lending to SMEs in first quarter by 15% to more than 24 billion drams

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18.04.2013, 15:52

Armenia-based Ameriabank increased lending to small and medium-sized businesses in the first quarter of 2013 by 15% to more than 24 billion drams, according to the bank’s CEO Artak Hanesyan.

Ameriabank increases lending to SMEs in first quarter by 15% to more than 24 billion drams

YEREVAN, April 18. / ARKA /. Armenia-based Ameriabank increased lending to small and medium-sized businesses in the first quarter of 2013 by 15% to more than 24 billion drams, according to the bank’s CEO Artak Hanesyan.

"Our ambitious goal is to increase the lending to SMEs this year by 75%. The first quarter numbers show that we are able to reach this target", he said during the ceremony of signing a loan agreement with the French financial organizations Proparco.

The French company and Ameriabank on Thursday signed a $15 million loan agreement. Ameriabank will channel the funds into small and medium-sized agricultural companies and enterprises engaged in processing and exporting agricultural products.

Ameriabank’s total outstanding loan portfolio as of March 31 amounted to 176.1 billion drams, by 13% more from the year earlier.

Ameriabank is a universal bank providing investment, corporate and retail banking services in the form of a comprehensive package of banking solutions. It is the first investment bank in Armenia providing since 2007 a wide range of innovative banking services. -0-

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