AMERIABANK CONTINUES USING MODERN PROGRAMS

Noyan Tapan
March 19, 2009

YEREVAN, MARCH 19, NOYAN TAPAN. In the current economic situation,
Ameriabank continues using modern programs in Armenia’s financial
market.

This time the bank offered new, flexible conditions for time deposits
of legal entities, taking into account the problem of correct use of
financial resources by businessmen.

Today when in many cases suppliers give no opportunity to defer
payments and consumers do not fulfil their obligations in time, cash
flows have become unpredictable. There is a necessity to have such
a system of efficient placement of financial resources that will
allow allocating money in the necessary direction at any moment,
also will increase the efficiency of using the available resources
to the maximum.

The new conditions for time deposits of legal entities ensure a
flexible scale of attraction periods and sums at the respective
interest rates, at the same time providing the opportunity to increase
or reduce, if necessary, the amount of the deposit during the deposit’s
period. Depending on the period and attracted sum, the interest rates
of deposits in Armenian drams may reach 11% annually, while those of
deposits in US dollars and euros may be up to 6%. In case of deposits
of over 500 million drams and over 500 thousand USD or euros, there
will be an individual approach for determining the interest rate.

It is noteworthy that as of February 28, the amount of time deposits
of legal entities at Ameriabank grew 7.2fold as compared with the
same period of 2008, and by 47.8% in the first two months of this year.

Reference: Ameriabank CJSC is an investment bank that delivers
corporate and limited retail banking services, providing a
comprehensive package of banking solutions. The Chairman of
Ameriabank’s Board of Directors is Ruben Vardanian, the Chairman and
Director General of the Directorate is Artak Hanesian. Ameriabank’s
strategic partner is Troyka Dialog group, one of the largest investment
banking companies in Russia.

From: Emil Lazarian | Ararat NewsPress