Ameriabank’s lending to small and medium-sized businesses surges by 65 percent to $14 million

YEREVAN, September 30. / ARKA /. Ameriabank’s lending to small and medium-sized businesses surged by 65 percent in 2014 August from the year earlier to $14 million,  Ameriabank’s Retail Operations Director Arman Barseghyan said today. 

Speaking at a news conference Barseghyan said the amount of loans issued to credit cards increased by 38% to $13 million, loans provided for the purchase of vehicles increased by 11% to $10.2 million and mortgage loans saw an 8% rise. 

"During the reporting period, the customer base grew by almost 22%. We have also registered a 30% growth in the number of issued cards, while the number of transactions made by using cards grew by 23%," said Barseghyan.

He said the amount of demand deposits increased in August 2014 by 37$ from 2013 August to $50 million, while time deposits increased by 23%  to $187 million. 

"We have recorded growth in all major indicators that enabled the bank to significantly improve its market position," said Barseghyan. 

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%), and 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). ($ 1 - 408.36 drams). -0--