Armenian Ameriabank’s Investments In Home Office Totals $2.5 Million

ARMENIAN AMERIABANK’S INVESTMENTS IN HOME OFFICE TOTALS $2.5 MILLION

/ARKA/
April 20, 2009
YEREVAN

Armenian Ameriabank has invested $2.5 million in its home office,
Ameribank General Director Artak Anesyan said on Saturday.

He said $1 million of these investments has been allocated for repair
and the remaining $1.5 million has been targeted for equipment.

"The home office is planned to be moved to a new building in June. The
location of the new office is Grigor Lusavorich Street. The center for
serving clients as well as dealing and broker centers will be here",
Anesyan said adding that the building has been rented.

He said that the office will be provided with
up-to-international-standards equipment.

The general director said that the bank has concluded an agreement with
Microsoft for receiving licensed software for servers and computers.

It is also planned to install up-to-date integrated software and
equipment to ensure security.

"The present home office building will function as branch over
one year.

After that it will be reconstructed", Anesyan said.

He said that the present home office was built yet in 1910 and now
needs a substantial repair.

The bank also intends to enlarge the network of branches.

"In 2008 we opened only one branch in Stepanakert, since concentrated
our attention mainly on investment activity, while now, in 2009, we
are planning to open three bra nches – in Kapan, Kajaran and Dilijan",
Anesyan said.

Ameriabank renders corporate, investment and limited retail banking
services.

The chairman of the bank’s directorial board is Ruben Vardanyan and
the general director if Artak Anesyan.

The bank’s strategic partner is Troika Dialog, one of the largest
investment companies in Russia. ($1 = AMD 372.84).