Thursday, March 23 2017 14:11

ArmInfo.Global Finance has named Ameriabank as the Best Bank of Armenia in 2017. Ameriabank has annually received this award from Global Finance since 2012. Global Finance's press release sent to ArmInfo says that Ameriabank is declared as one of the best banks in Asia-Pacific.  

Global Finance magazine has announced its twenty-fourth annual awards  for the World's Best Banks. The honorees for Asia-Pacific are  presented here. A full report on the selections will appear in the  May issue of Global Finance, with winners chosen in more than 150  countries across Africa, Asia-Pacific, Central & Eastern Europe,  Latin America, The Middle East, North America and Western Europe. The  May report will also feature selections for the Best US Regional  Banks and the World's Best Banks By Region.  Overall global winners  will be announced in the summer and published in the October issue. 

The winners of this year's awards are those banks that attended  carefully to their customers' needs in difficult markets and  accomplished better results while laying the foundations for future  success. 

All selections were made by the editors of Global Finance after  extensive consultations with corporate financial executives, bankers  and banking consultants, and analysts throughout the world. In  selecting these top banks, Global Finance considered factors that  range from the quantitative objective to the informed subjective. In  addition, a poll of Global Finance's corporate readership was  conducted in order to increase the accuracy and reliability of the  results. Banks were invited to submit entries supporting their  selection. Objective criteria considered included: growth in assets,  profitability, geographic reach, strategic relationships, new  business development and innovation in products. Subjective criteria  included the opinions of equity analysts, credit rating analysts,  banking consultants and others involved in the industry. 

"Global Finance's annual Best Bank Awards celebrate financial  institutions that excel at delivering customers the services and  products tailored to meet their unique needs," said Joseph D.  Giarraputo, publisher and editorial director of Global Finance.  "These banks may not be the biggest or oldest, but their energy and  adaptability make them stand out in the field." 

The source says that the winners will be honored at an Awards  Ceremony held during the IMF/World Bank Annual Meetings in Washington  DC on the morning of October 14, 2017 at the National Press Club.

According to ArmInfo's Financial Rating of Armenian Banks, in 2016   Ameriabank's assets grew by 39.2% to AMD 718.3 bln or $1.5 bln, the   loan book - by 61.4% and investments in government bonds - by 44.2%.    As a result, the Bank's lending rose to AMD 511.6 bln or $1.1 bln,   and investments in government bonds - to AMD 47.5 bln or $98.1 mln.   In 2016, the total capital of the Bank increased by 8.6% to AMD 64.4   bln or $133.1 mln due to the fact that the accumulated profit rose by   23.4% to AMD 24.3 bln or $50.1 mln.  In 2016, the net profit of the   bank amounted to AMD 6.2 bln or $12.8 mln (up 29.2% versus 2015). By   1 Jan 2017, the regulatory capital of Ameriabank amounted to AMD 81.9   bln, which is almost thrice as much as the CBA's minimum regulatory   capital standard that came into effect on 1 Jan 2017 (AMD 30 bln).   The capital adequacy ratio made up 15.87% (versus the required min   12%), overall liquidity - 31.23% (versus the required min 15%),   day-to-day liquidity - 133.17% (versus the required min 60%), versus   respective 15.07%, 29.91% and 151.26% a year before. 

To note, Ameriabank is a universal bank providing investment,  corporate and retail banking services. The Bank has been operating on  the Armenian market since October 31, 1996. The branch network of the  Bank comprises 14 branches, 8 of them in Yerevan and 6 in the   provinces. As of 1 Jan 2017, the shareholders are Ameria Group CY Ltd  (65.8%), EBRD (20.7%) and ESPS Holding Limited (13.5%). The Bank has  received awards from Euromoney (2016, 2014, 2012, 2011), Global  Finance (2016, 2015, 2013, 2012), The Banker/FT (2016, 2015, 2013,  2010).

Global Finance, founded in 1987, has a circulation of 50,000 and  readers in 192 countries. Its circulation is audited by BPA. Global  Finance's audience includes chairmen, presidents, CEOs, CFOs,  treasurers and other senior financial officers responsible for making  investment and strategic decisions at multinational companies and  financial institutions. Global Finance also targets the 8,000  international portfolio investors responsible for more than 80% of  all global assets under professional management. Its website -  GFMag.com - offers analysis and articles that are the heritage of 30  years of experience in international financial markets, and provides  a valuable source of data on 192 countries. Global Finance is  headquartered in New York, with offices in London and Milan.