AMERIABANK PLANS TO PURCHASE A BANK IN ARMENIA
YEREVAN, OCTOBER 16, NOYAN TAPAN. Ameriabank is the most rapidly
developing bank in Armenia. Its overall capital grew 4.5fold in
January-September 2008 and made 18.7 billion drams (about 62 million
USD) at the end of the third quarter, the overall assets made over 41.2
billion drams, growing twofold as compared with early 2008, the
liabilities made 21.7 billion drams, and the credit portfolio made 23.4
billion drams, growing 7.5fold as compared with early 2008 and by 28%
in the third quarter. It is expected that in late 2008 the bank’s
overall capital will amount to 20 billion drams, and during the fourth
quarter the overall assets will increase by at least 30%, the credit
porfolio’s growth will slow down, and the liabilities will grow by 24%,
the director of Ameriabank’s development department Tigran Jrbashian
said at the October 16 press conference.
In his words, the issue of purchasing a bank in Armenia is being
discussed at Ameriabank. The candidacies of 3-4 banks are being
studied. The bank plans to open a branch in Stepanakert soon. Another
two branches will open in Armenia either in late 2008 or early 2009.
It was mentioned that Ameriabank will soon finish the introduction of a
system of management of its relations with customers. With this aim,
international experts and advisors have been involved.
According to T. Jrbashian, the bank’s guideline is servicing of
corporate customers and aggressive development with the use of the
positive factors of the financial crisis.
Ameriabank will continue its operations on placement of bonds of
various companies. The bank is currently conducting negotiations with
three Armenian companies which intend to issue bonds within the next
2-3 months.