AMERIABANK OPENS ITS FIRST BRANCH IN NAGORNO-KARABAKH

ARKA
Nov 10, 2008

STEPANAKERT, November 10. /ARKA/. Ameriabank of Armenia has opened
its first branch on the territory of Nagorno-Karabakh.

Along with traditional banking services, the branch will also be
developing new investment banking services that have not been utilized
in the banking systems of Armenia and Karabakh yet, General Director
of Ameriabank Artak Anesyan said.

Support is to be provided to small, medium and major businesses,
Anesyan said adding that the bank will be extending mortgage and
consumer credits and will be financing leasing and factoring projects.

The Stepanakert branch has about 1,000 clients today and the number of
clients is expected to grow by seven times up to 7,000 in yearly terms.

The banking services, technical equipment and the service level in
the new branch will be in line with highest international standards
and will not yield to the Yerevan Central Office, says the banks’
press release. An online system is to link the Stepanakert Office
with that in Yerevan.

The branch opening ceremony was attended by the Premier of
Nagorno-Karabakh republic (NKR) Ara Hatutiunyan, Chairman of the
Central Bank of Armenia Artur Javadyan and the Head of Artsakh diocese
of Armenian Apostolic Church Parkev Martirosyan.

Ameriabank (formerly Armimpexbank) was established in July 1992 as
the Armenian branch of the USSR Vnesheconombank. On September 8,
1992, the Central Bank of Armenia issued a license to the bank.

TDA Holdings Limited, affiliate of the Russian Troika Dialog Investment
Company, became the bank’s principal shareholder (96.15%). In May
2008 the bank was renamed Ameriabank.