Ameriabank is leading bank in Armenia by size of factoring portfolio worth 12 billion drams
22.03.2019,
17:24
Based on the results of 2018, Ameriabank is the leading bank in Armenia by the size of the factoring portfolio, the press service of the bank reported today.
YEREVAN, March 22. /ARKA/. Based on the results of 2018, Ameriabank is the leading bank in Armenia by the size of the factoring portfolio, the press service of the bank reported today.
It said during the reporting period, the bank's portfolio surged by 59% when compared with the previous year amounting to 11 billion drams late in 2018. Currently, the factoring portfolio of the bank stands at more than 12 billion drams.
Ameriabank actively uses factoring as one of the best instruments for short-term financing, having as a result diversified its factoring portfolio sufficiently.
Factoring services are used by clients from the most diverse sectors of the economy (energy, construction, trade, public services and other areas), who need short-term financing to replenish their working capital.
Factoring, as a flexible financial instrument, allows not only to effectively solve these problems, but also to work with partners on installment. As part of factoring, clients give the bank the right to monetary claims which are shaped by accounts receivable, and receive in return factoring financing, enabling companies to freely carry out natural financial activities.
"Export factoring accounts for the bulk of transactions. To this end Ameriabank closely cooperates with the Armenian Export Insurance Agency. This gives exporters the opportunity to build more efficient and financially reliable relations with their foreign partners," the bank said.
Ameriabank is a dynamically developing bank in Armenia, one of the largest and most stable financial institutions in the country. Today Ameriabank is a universal bank providing the full package of corporate, investment and retail banking services. By the end of 2018, Ameriabank was the leading bank in Armenia in terms of key indicators (assets, liabilities, loan portfolio, net profit and capital). -0-
It said during the reporting period, the bank's portfolio surged by 59% when compared with the previous year amounting to 11 billion drams late in 2018. Currently, the factoring portfolio of the bank stands at more than 12 billion drams.
Ameriabank actively uses factoring as one of the best instruments for short-term financing, having as a result diversified its factoring portfolio sufficiently.
Factoring services are used by clients from the most diverse sectors of the economy (energy, construction, trade, public services and other areas), who need short-term financing to replenish their working capital.
Factoring, as a flexible financial instrument, allows not only to effectively solve these problems, but also to work with partners on installment. As part of factoring, clients give the bank the right to monetary claims which are shaped by accounts receivable, and receive in return factoring financing, enabling companies to freely carry out natural financial activities.
"Export factoring accounts for the bulk of transactions. To this end Ameriabank closely cooperates with the Armenian Export Insurance Agency. This gives exporters the opportunity to build more efficient and financially reliable relations with their foreign partners," the bank said.
Ameriabank is a dynamically developing bank in Armenia, one of the largest and most stable financial institutions in the country. Today Ameriabank is a universal bank providing the full package of corporate, investment and retail banking services. By the end of 2018, Ameriabank was the leading bank in Armenia in terms of key indicators (assets, liabilities, loan portfolio, net profit and capital). -0-
