AMERIABANK’S TIME DEPOSITS RISE 7.6 TIMES TO 44 BILLION DRAMS

ARKA
October13, 2009
Yerevan

YEREVAN, October 13, /ARKA/. Armenian commercial AmeriaBank said its
time deposits rose almost 4 times in January-September, 2009 and 7.6
times in the last 12 months to 44 billion Drams. The bank’s press
service told ARKA that the volume of corporate time deposits in the
first 9 months of the year rose 3.3 times and 9 times over the last
12 months to 32 billion Drams.

It said also 74% of all time deposits are corporate- held, although
the bank’s initiative to insure fully time deposits applies only to
individual deposits.

According to the press release, individual time deposits in
January-September rose almost 6 times and 5 times in the last 12
months to 11 billion Drams as of September 30. At that individual
deposits rose 80 percent in Q3, while corporate deposits rose in the
same time span by 24%.

The press release said also bank’s assets have risen this year by 90%
to 93 billion Drams.

AmeriaBank is a corporate bank with integrated investment-banking
and a limited number of retail banking services. In August 2007 96%
of the bank was obtained by TDA Holdings Limited, an investment
company affiliated with the leading and largest Russian investment
group company – Troika Dialog.

In 2007-2008 TDA Holdings Limited increased its equity participation
up to 99.99%. AmeriaBank chairman of board of directors is Ru ben
Vardanian. ($1 – 385.87 Drams).