AMERIABANK PURPOSEFULLY PULLS AHEAD

arminfo
2008-08-26 14:37:00

ArmInfo. TDA Holdings Limited, the affiliated company of the
largest investment company in Russian Troika Dialog, the owner of
AMERIABANK, has purposefully capitalized the bank and propelled
it to the top. Hereby, it gave an opportunity to the bank to take
leading positions in the market of investment banking and universal
bank services.

He said that in August the bank held the second closed issue of shares
for 10.6 bln drams ($35.3 mln), in particular, 265 thousand ordinary
nominal shares with 40,000 drams face values each. The majority
shareholder of the bank acquired the whole package increasing its
stake to 99.6 percent. At preset, the authorized capital of the bank
is divided into 425,000 ordinary nominal shares with 40,000 drams face
values each. Total capital after the second issue was up to 18.6 bln
drams ($62 mln). Due to it, the bank rose from top ten to top five
leaders by the given indicator.

A. Anesyan said the third issue of shares for 1.2 bln drams ($4 mln)
is planned for October 2008, in particular, 30,000 ordinary nominal
shares with 40,000 drams face values each. Due to it, the bank
will increase the authorized capital to 18.2 bln drams ($61 mln)
which will fortify its leading positions in the banking market of
Armenia. Total capital will be increased due to replenishment of the
authorized capital and the expected growth of profit. Thus, the bank
will overfulfill the plan of strategic development for 2008. In future,
the bank will raise capital at the expense of profit for it envisages
over $5 million net profit for 2009.

He mentioned that the first 4.4 bln drams issue of shares was in
February 2008, which raised the authorized capital of the bank to 6.4
bln drams. As of June 1 2008, total capital of the bank was 7.9 bln
drams ($25 mln – 10th position), authorized capital was 6.4 bln drams
($20 mln- 6th position). The share of majority shareholder rose to
99.06%. Total number of the bank’s shareholders was 8 as of June 1
2008 including 4 legal entities and 5 individuals.

In September 2007 TDA Holdings Limited, the affiliated company of
the largest investment company in Russian Troika Dialog, acquired
96.15pct stake in Armimpexbank. In June 2008 Armimpexbank was renamed
into AMERIABANK. The new brand is based on a new concept of the bank’s
activity in the investment banking. AMERIABANK Director General Artak
Anesyan told ArmInfo the bank started providing factoring services
in mid August 2008 and financial leasing operations in June 2008
(leasing portfolio of the bank is 200 million drams). He said a
leasing company may be established when the is developed enough.