Ameriabank’s nine-month net profit amounts to AMD 4.7 billion – 60% year-on-year growth
23.10.2012,
18:41
Ameriabank has earned AMD 4.7 billion in net profits for nine months of this year – 87% year-on-year growth against 59% year-on-year growth a year earlier.
YEREVAN, October 23. /ARKA/. Ameriabank has earned AMD 4.7 billion in net profits for nine months of this year – 87% year-on-year growth against 59% year-on-year growth a year earlier.
“Our nine-month profits before taxation totaled AMD 5.9 billion – 59% year-on-year growth and 86% quarter-on-quarter growth,” Gevorg Tarumyan, financial director of the bank, said at a news conference on Tuesday.
Tarumyan said that Ameriabank was the second biggest profit-gainer among Armenia’s banks in the third quarter and in Jan-Sept. In 2011, the bank ranked fourth for its profits.
Ameriabank’s assets have grown 20%, its loan portfolio 16% and liabilities 24% since the beginning of this year.
Individual deposits have grown about 24% and time deposits about 37%.
“As a whole, current and time deposits have grown 42% since the beginning of this year,” he said.
The number of the bank’s corporate clients has grown 10% and individuals 20%.
Ameriabank’s lending to small and mid-scale businesses, which remain among the bank’s key focuses, has grown as well.
Ameriabank Development Director Tigran Jrbashyan, on his side, said that the bank also accounted for 30-40% growth in all its indicators, including assets, liabilities and lending.
Jrbashyan said that SME lending owes its growth to the implementation of reforms and introduction of new services, including deposit offers.
Ameriabank’s assets totaled AMD 241.5 billion and liabilities AMD 205.6 billion by late September. Its total capital amounted to AMD 35.9 billion and loan portfolio AMD 154.9 billion.
Ameriabank is the first investment bank in Armenia. It started providing a wide range of innovative banking services in 2007. The bank has nine branches in Yerevan, Nagorno-Karabakh Republic, Kajaran, Dilijan and Vanadzor. ($1 – AMD 405.76). -0-
