AMERIABANK’S ASSETS DOUBLE IN 2009, REACHING 103.5 BILLION DRAMS (REVISED VERSION)

Noyan Tapan
Jan 27, 2010

YEREVAN, JANUARY 27, NOYAN TAPAN. In 2009 Ameriabank’s assets doubled,
reaching 103.5 billion drams (about 5 million), with the bank ranking
first in the Armenian banking system by the index of asset growth.

Director General of Ameriabank Artak Hanesian announced this on
January 26, when summarizing the bank’s activities in 2009.

He said that last year credit investments grew by 73% to 54 billion
68 million drams. Liabilities to customers tripled, reaching 69.1
billion drams, while overall liabilities amounted to 81.8 billion
drams. In 2009, the bank’s capital increased by 7% to 1 billion 517
million drams. Last year Ameriabank opened 3 branches in Yerevan,
Nagorno Karabakh and Kajaran. In 2010 it plans to open another 3
branches: in Dilijan, Vanadzor or Gyumri, and in downtown Yerevan.

According to A. Hanesian, in 2009 the bank signed a 30 million dollar
agreement with two financial organizations – FMO and DEG, with million
to be allocated for small and medium business crediting and million
to be given as loans for construction of small hydropower plants.

Besides, a 15 million dollar credit agreement was signed with IFC
for crediting the renewable energy sector, and for trade financing
( million). Loans of IFC and DEG will be attracted this year. A.

Hanesian said that negotiations are being conducted for signing a new
15 million dollar agreement: work is underway to specify the terms
of the agreement. It was mentioned that the name of the international
organization will be announced after signing the agreement.