ARMENIAN AMERIABANK’S ROE REQUIREMENT EXCEEDS 51% IN Q1

/ARKA/
April 20, 2009
YEREVAN

The Armenian Ameriabank has recorded a 51% excess of the return on
equity (ROE) requirement.

Ameriabank Director General Artak Anesyan reported that the bank does
not plan any changes in its authorized capital, which has reached
18.2bln AMD, the largest authorized capital in the Armenian banking
system. "And the ROE exceeded 51% at the end of the first quarter,"
Anesyan said.

According to him, this is a rather high index amid the global crisis,
which guarantees the fulfillment of all the commitments by the bank.

Anesyan pointed out that the bank’s authorized capital has increased
9-fold – from 2bln AMD to 18.2bln AMD. As regards assets, they have
shown a 4-5-fold increase, and their becoming profitable requires time.

Anesyan also said that Ameriabank does not plan a very large return
on equity (ROE) because it does not aim to earn funds for stockholders.

"Our goal is to spawn competent business in Armenia on the basis of
impartial relations with clients," Anesyan said.

He pointed out that the bank considers the first three years a period
of formation, after which ROE is expected to reach 16% to rise up to
25% during the following five years.

The Ameriabank CJSC is an investment bank rendering corporate,
investment and limited retail services. Ruben Vardanyan is Chairman of
the Board of Directors, Artak Anesyan is Chairman of the Directorate
and Director General.

The Troika Dialog Group, one of the Russian largest investment
companies, is Ameriabank’s strategic partner in Russia.

In the first quarter of this year, Ameriabank increased its assets
by 65.1%.

As of March 31, the bank’s assets totaled 80.9bln AMD – a 3.8-fold
increase as compared with the corresponding period of last year.

At the end of the 1st quarter of 2009, Ameriabank’s liabilities reached
60.4bln AMD, total capital 20.51bln AMD. The bank’s authorized capital
totaled 18.2bln AMD, credit investments 32.8bln AMD and liabilities
to clients 53.8bln AMD.

This January-March, the bank’s after-tax profit totaled 113.6mln AMD –
an increase of 110.2% (54mln AMD) since the beginning of the year.

From: Emil Lazarian | Ararat NewsPress