In 2018 Ameriabank received highest profit since its inception
12.03.2019,
10:13
In an interview with Para TV Ameriabank’s Deputy CEO, Chief Financial Officer Gevorg Tarumyan speaks about the results of the bank’s activity and the achievements of Armenia’s banking sector in 2018.
YEREVAN, March 12. /ARKA/. In an interview with Para TV Ameriabank’s Deputy CEO, Chief Financial Officer Gevorg Tarumyan speaks about the results of the bank’s activity and the achievements of Armenia’s banking sector in 2018.
According to him, the past year was quite successful for Ameriabank, which was the leading bank in the country in terms of key indicators such as assets, liabilities, net profit and capital.
"It is noteworthy that last year the profit of our bank exceeded 10 billion drams, which is the highest figure in its history. Over the past five years, the average annual growth of the loan portfolio was 20-25%. Ameriabank accounts for 15% of the banking sector’s assets in the market and for 17% of the loan portfolio," he said.
Tarumyan noted that the bank seeks to strengthen its position in retail and SME lending. According to him, last year was a turning point for the bank as it managed to achieve this goal.
"The retail lending portfolio grew by 53%. This is a fairly high indicator in the banking sector. A large role was played by new products, such as credit scoring. These are loans, for which the customer does not need to visit the bank. Also the bank’s mortgage lending portfolio surged by more than 50%," he said.
Tarumyan said the bank demonstrated also good results in trade finance - an increase of approximately 60%. According to him, this growth was driven by a substantial rise in the volume of imported capital goods to Armenia, largely backed by trade finance instruments.
According to Tarumyan, Armenian banking sector’s assets in 2018 amounted to 4.9 trillion drams (approximately 83% of GDP). This is a significant indicator showing that the banking system of Armenia fulfills its role. Besides, loans account for 60% of GDP, which means that the banks are the main creditors of the economy.
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). ($ 1 - 488.57 drams) -0-
According to him, the past year was quite successful for Ameriabank, which was the leading bank in the country in terms of key indicators such as assets, liabilities, net profit and capital.
"It is noteworthy that last year the profit of our bank exceeded 10 billion drams, which is the highest figure in its history. Over the past five years, the average annual growth of the loan portfolio was 20-25%. Ameriabank accounts for 15% of the banking sector’s assets in the market and for 17% of the loan portfolio," he said.
Tarumyan noted that the bank seeks to strengthen its position in retail and SME lending. According to him, last year was a turning point for the bank as it managed to achieve this goal.
"The retail lending portfolio grew by 53%. This is a fairly high indicator in the banking sector. A large role was played by new products, such as credit scoring. These are loans, for which the customer does not need to visit the bank. Also the bank’s mortgage lending portfolio surged by more than 50%," he said.
Tarumyan said the bank demonstrated also good results in trade finance - an increase of approximately 60%. According to him, this growth was driven by a substantial rise in the volume of imported capital goods to Armenia, largely backed by trade finance instruments.
According to Tarumyan, Armenian banking sector’s assets in 2018 amounted to 4.9 trillion drams (approximately 83% of GDP). This is a significant indicator showing that the banking system of Armenia fulfills its role. Besides, loans account for 60% of GDP, which means that the banks are the main creditors of the economy.
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). ($ 1 - 488.57 drams) -0-
