Friday, March 22 2019 16:13
Karine Melikyan

Ameriabank leads in terms of volume of factoring operations

Ameriabank leads in terms of volume of factoring operations

ArmInfo.. Ameriabank leads in terms of volume of factoring operations, providing a portfolio of 11 billion drams in 2018 with a y-o-y growth of 59%. To date, the  factoring portfolio of the bank already exceeds 12 billion drams. As  the Bank's press service told ArmInfo, the dominant part of these  operations falls on export factoring, in which Ameriabank closely  cooperates with the Export Insurance Agency of Armenia, which gives  exporters the opportunity from a financial point of view to build  more efficient and reliable business relations with foreign partners.

Factoring ( table =productlistmenu&page=98&lang=33), as the best tool for short-term  financing, is actively used by Ameriabank, as a result of which the  bank has a sufficiently diversified portfolio. In particular,  representatives of various sectors of the economy use factoring  services of Ameriabank (energy, construction, trade, services, etc.),  for the replenishment of working capital of which there is a need for  short-term financing. As a flexible financial instrument, factoring  not only makes it possible to effectively solve this problem, but  also makes it possible to work with partners on deferred payment  terms. In the framework of factoring, clients give the bank the right  to a monetary claim for receivables, in exchange for receiving  factoring financing instantly, which allows organizations to carry  out financial transactions without hindrance.

According to the Financial Rating of Banks of Armenia as of December  31, 2018, prepared by ArmInfo IC, Ameriabank continues to lead in  terms of key financial indicators. The bank's assets amounted to  779.8 billion drams ($ 1.6 billion, first position), credit  investments - 545.8 billion drams ($ 1.1 billion, first position). In  the structure of the loan portfolio of the bank, the share of  factoring operations accounts for over 2%, and in the total volume of  factoring transactions in the banking market, the share of Ameriabank  is 34%. On a y-o-y basis, the bank increased its assets by 15.1%, in  the structure of which credit investments grew by 12%. 2018  Ameriabank finished with a net profit of 10.5 billion drams or $ 21.7  million (1st position), having increased this figure by 37.3% per  annum.

To recall, Ameriabank is a dynamically developing bank in Armenia,  one of the largest and most stable financial institutions in the  country. Today, Ameriabank is a universal bank providing a full  package of corporate, investment and retail banking services, and the  leader of the banking sector of Armenia in terms of its main  financial indicators (assets, liabilities, loan portfolio, net profit  and capital). The Bank has been operating in the Armenian market  since October 31, 1996. The shareholders of Ameribank are: Ameria  Group CY Ltd - 56.6%, EBRD - 17.8%, Asian Development Bank (ADB) -  13.98% and ESPS Holding Limited - 11.62%. The Bank is annually  awarded distinctive awards from Euromoney, from Global Finance, from  The Banker / FT, from Commerzbank. Ameriabank is the only  organization in Armenia with credit ratings of three agencies: S & P  (B +, with a "Stable" outlook), Moody's (B1, with a "Positive") and  Fitch (B +, with "Stable") forecasts.

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