TIME DEPOSITS GROW BY 39.9% IN AMERIABANK OF ARMENIA IN Q1 2009

ARKA
Apr 7, 2009

YEREVAN, April 7. /ARKA/. Total amount of time deposits grew by 39.9%
in Ameriabank of Armenia in the first quarter of 2009, which is a
5.7-time increase against the same period of last year.

The bank’s press service reported that total amount of time deposits
was 22.2bln Drams at the end of March 2009.

According to the press release, deposits of legal entities constituted
79.4% of the overall deposit amount in the bank in the period –
an increase of 26.2% over the first quarter and a 5.9-time increase
compared with the first quarter of 2008.

In December 2008, the bank initiated full insurance of individual
deposits regardless of the deposit amount and currency.

This step helped the bank to substantially strengthen its ties with the
society and increase amounts of individual deposits, says the report.

On the whole, deposits grew by 141.1% in Ameriabank in the first
quarter of this year. A 5.2-time increase in individual deposits was
recorded as compared with the first quarter of 2008.

Ameriabank closed joint stock company is an investment bank offering
corporate, investments and other retail services in a complex
package. Ruben Vardanyan is the Chairman of the bank’s Board of
Directors and Artak Anesyan is the Chairman of Directorate and the
General Director.

"Troyka Dialogue", one of the biggest Russian inve stment-banking
companies, is a strategic partner of Ameriabank. ($1=371.49Drams).

From: Emil Lazarian | Ararat NewsPress