AMERIABANK OF ARMENIA EXPECTS 30% INCREASE IN ALL INDICATORS BY END OF 2009
/ARKA/
April 20, 2009
YEREVAN
Ameriabank of Armenia expects a 30% increase in all indicators by
the end of 2009, General Director of Ameriabank closed joint stock
company Artak Anesyan reported.
Back in September, the bank prepared a development scenario for crisis
conditions with basic scenario envisaging from minus 5% to plus 5%
GDP growth, inflation of 8-10% by the end of the year, foreign exchange
rate at 350-370Drams for $1 and up to 1.5% non-standard assets.
Under most pessimistic scenario, non-standard assets were expected
at 5%-20%, he said.
Yet, the bank not only remained within the planned levels, but even
improved some indicators. In particular, non-standards assets were
about 1.3% of all assets, which is quite a high indicator, Anesyan
said.
As a result, the bank overfulfilled the asset growth and profitability
indicators and is ahead of the planned growth rates.
The General Director also said that the bank is planning increasing the
capital at the expense of its profit and raising the credit portfolio.
"I believe that, if we act correctly, we will maintain all indicators,
even if general economic environment gets 5% worse in the country,"
Anesyan said.
Ameriabank closed joint stock company is an investment bank offering
corporate, investments and limited retail services. Ruben Vardanyan
is the Chairman of the bank’s Board of Directors and Artak Anesyan
is the Chairman of Directorate and the General Director.
Troyka Dialog, one of the biggest Russian investment-banking companies,
is a strategic partner of Ameriabank.
The bank’s assets grew by 65.1% up to 80.9bln Drams in the first
quarter of 2009, which is a 3.8-time increase as compared with the
same period of last year.
The bank’s liabilities were 60.4bln Drams in the first quarter of 2009
and total capital was 20.51bln Drams. Authorized stock totaled 18.2bln
Drams by the end of the first quarter. The bank’s credit investments
were 32.8bln Drams in the period with liabilities to clients totaling
53.8bln Drams.
The bank’s net profit after taxes totaled 113.6mln Drams – an increase
of 110.2% or 54mln Drams. ($1=372.84Drams).