ArmInfo.. Ameriabank and Citibank
signed a new trade finance deal, Ameriabank raising about $14 million
loan from Citibank. As the press service of the bank told ArmInfo,
part of the loan has been extended under the existing credit limit
opened by Citibank for Ameriabank, while the rest is secured by
guarantee of the Asian Development Bank. Ameriabank has the status of
issuing and confirming bank under the Asian Development Bank's Trade
The new facility will secure better and more competitive terms for
Ameriabank's clients engaged in foreign trade.
Citibank and Ameriabank have been cooperating for several years
during which the number and volume of deals have been continuously
growing, which is the best proof of mutual trust and efficiency.
Ameriabank has an average $100 million pool of borrowed funds a year
for trade finance purposes, and this deal is another successful one
in the scope of trade finance.
According to the Financial Ratings of Banks of Armenia, prepared by ArmInfo IC, as of January 1, 2019, Ameriabank retains leadership in the main balance sheet indicators. Assets increased in 2018 by 15%, credit investments - by 12%.
Ameriabank also retained the 1st position in terms of corporate lending, with an increase in the volume of 2018 by 5.7%. The bank is one of the leaders in lending to the industrial sector (including the energy complex), agriculture, the construction sector, trade, transport and communications, catering and services, mortgage lending. Bank is also a leader in lending to SMEs. But the main concentration of credit investments of the bank falls on the industrial sector and trade. In terms of net profit, which increased by 37.3% in 2018, Ameriabank also holds the lead. Ameriabank is also the leader in terms of total liabilities, in the structure of which the share of funds raised from international financial institutions amounts to about 30% or 205.4 billion drams ($ 424.5 million, with a y-o-y growth of 20%) by this indicator also holds the lead.
To recall, Ameriabank is a universal bank providing investment,
corporate and retail banking services in the form of a comprehensive
package of banking solutions. The bank has been operating in the
Armenian market since October 31, 1996. Ameriabank has a branch
network of 16 divisions, of which 10 are located in Yerevan and 6 are
regional ones. As of January 1, 2019, 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
annually has been awarded distinctive awards from Euromoney, from
Global Finance, from The Banker / FT, from Commerzbank. Ameriabank
Has credit ratings of two agencies: S & P (B +, with "Stable" outlook)
and Moody's (B1, with "Positive" outlook).