HEAD OFFICE OF AMERIABANK OPENS IN YEREVAN

NOYAN TAPAN
NOVEMBER 12, 2009
YEREVAN

The opening ceremony of Ameriabank’s head office equipped with modern
equipment took place in Yerevan on November 12. Armenian President
Serzh Sargsyan attended the opening ceremony. The bank plans to open
another three branches in 2010.

Chairman of the Central Bank of Armenia Arthur Javadian stated that
during many years of its work, notably over the past two years, the
bank has made a significant contribution to the development of the
Armenian banking system. According to him, the bank is in first place
in the banking system by its authorized capital, and 24% in the 10%
overall growth of credit investments is ensured at the expense of
Ameriabank’s credit resources. Its assets grew sixfold, while its
liabilities – sevenfold, which is a serious index under conditions
of the financial and economic crisis, A. Javadian underlined.

Director General of Ameriabank CJSC Artak Hanesian told reporters that
the bank expects an annual profit of 1.4 billion drams by the end of
2009. He said the bank will provide various services, with the stress
being laid on the expansion of services to corporate customers and the
provision of loans to small and medium business and the energy sector.