Net profit of Armenia’s Ameriabank grows 11.2% to AMD 5.1 billion in Jan-Sept 2014

YEREVAN, October 29. /ARKA/. Net profit of Armenia’s Ameriabank for Jan-Sept 2014 amounted to AMD 5.1 billion after growing 11.2% over the year, Gevorg Tarumyan, financial director of the bank said on Wednesday.

“This is a very good result for us, since as a whole, the profit of Armenia’s banks fell 20 percent, according to our preliminary data,” he said expressing hope that this year’s result will be better than that of the previous year.    

According to Ameriabank’s data, its net profit amounted to AMD 6.2 billion in 2013. 

Tarumyan said that the bank’s assets totaled about AMD 334 billion in late September 2014 after growing 6% since the beginning of the year. 

“Ameriabank has outdone other Armenian banks by size of assets – aggregate assets of the country’s banking system grew by just 0.6%,” he said. 

The bank’s liabilities, he said, grew 6.1% to AMD 293.17 billion, while the banking sector accounted for a 0.5% decline. Ameriabank is ahead of the pack also here. Its liabilities to clients totaled AMD 206.3 billion after growing 21.4% over the mentioned period, while the banking sector accounted for a 0.6% decline. The bank is atop also here. 

Individuals’ time deposits grew 12.2% over the nine months and 22.9%, compared with Jan-Sept 2013, to about AMD 76 billion in late September. 

“We have also good results on our loan portfolio, which has grown 19% since the beginning of this year against the banking sector’s 6.4% growth, to more than AMD 209.6 billion in late September,” Tarumyan said adding that Ameriabank was the second biggest lender among Armenian banks. 

Ameriabank CJSC is a universal bank providing investment, corporate and retail banking services in a package. 

Ameriabank is the first investment bank in Armenia. It started providing a wide range of innovative banking services in 2007. 

Twenty one commercial banks operate in Armenia now. ($1 – AMD 411.55). ---0----