DIRECTOR GENERAL: ARMENIAN AMERIABANK INTENDS TO ENLARGE ITS ASSETS BY 25% IN 2010

ARKA
Jan 26, 2010

YEREVAN, January 26. /ARKA/. Armenian Ameriabank intends to enlarge its
assets by 25% in 2010, Artak Hanesyan, director general of Ameriabank
CJSC, said Tuesday at a press conference.

He said the bank would enlarge its credit portfolio by 30% this year.

"And growth of capital will depend on profits, and is expected to
increase by 10%," Anesyan said.

The director general Ameriabank’s assets doubled from AMD 50 billion
in 2008 to AMD 103.5 billion in 2009.

He said the bank is the leader in profit growth among other Armenian
banks.

Ameriabank was the second largest lender among Armenian banks in 2009 –
its credit portfolio grew 73% to AMD 54.6 billion.

The bank’s liabilities toward clients tripled reaching AMD 69.1
billion against AMD 23.4 billion in 2008 – this indicator placed the
bank third among others.

Ameriabank’s liabilities totaled AMD 81.8 billion in 2009.

The bank, with its AMD 1.5 billion profit, was the fourth biggest
profit-gainer among Armenian banks in 2009.

Hanesyan said that Ameriabank implemented new programs, such as full
deposit insurance introduced in cooperation with Rosgosstrakh.

Thanks to that, individuals’ deposits grew 7.5 times.

The bank opened a new home office in 2009.

Hanesyan also pointed out introduction of Internet-banking services
among the banks achievements.

He said automation of business processes is under way now and planned
to be completed by May 1, 2010.

"We intend to offer "structural deposit" service in 2010", he said.

"We will complete the business process in one or two months, and the
service will be offered in the first quarter. Besides, Ameriabank
intends to offer "structural note" service and develop pension scheme."

The Ameriabank CJSC (former Armimpexbank) was founded in July 1992
using the facilities of the Armenian branch of the USSR Vnesheconombank
(Foreign Economy Bank). On September 8, 1992, the bank received its
license from the Central Bank of Armenia.

In August 2007, TDA Holdings Limited, affiliated with Troika Dialogue,
Russia’s leading investment company, purchased the bank’s shares.