Tuesday, May 7 2019 17:57
Karine Melikyan

Ameriabank in partnership with Citibank and Asian Development Bank  raises $14 mln for trade financing 

Ameriabank in partnership with Citibank and Asian Development Bank  raises $14 mln for trade financing 

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

Finance Program.

 

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).

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