Thursday, November 21 2019 16:19
Alina Hovhannisyan

Arman Barseghyan: Ameriabank leads the market in mortgage lending

Arman Barseghyan: Ameriabank leads the market in mortgage lending

ArmInfo.  Ameriabank is a  leader in the mortgage lending market. On November 21, Arman  Barseghyan, Retail Banking Director of Ameriabank, said during an  online press conference.

According to him, since the beginning of the year, the bank's  mortgage portfolio has increased by almost 50%, reaching about 70  billion drams. In this vein, the head of retail banking noted that  the portfolio is not inferior in terms of quality. , - said Barseghyan. In this context, he emphasized  that in the case of high growth rates, the bank pays special  attention to risk management.

However, Barseghyan noted that such dynamics in mortgage lending is  primarily due to passivity in the real estate market for 3-4 years,  which led to deferred demand. And as a result, as he noted, this gap  should have been filled. In addition, the positive changes, according  to the banker, were affected by income tax refunds and activity in  the construction sector.

According to the Financial Rating of the Banks of Armenia as of  September 30, 2019, prepared by ArmInfo IC, Ameriabank remains the  leader in terms of mortgage loans - 66.5 billion drams ($ 139.6  million). In y- o-y terms, the bank increased this portfolio by  81.2%, only for 9 months of 2019 - by 48.4%, of which for the III  quarter - by 14.5%. The share of Ameriabank in total mortgage loans  in the market exceeds 20%, and in the total credit investments of the  bank the share of mortgages reaches almost 12%.  To recall,  Ameriabank is a universal bank offering corporate, retail and  investment services in a comprehensive package. Ameriabank has been  operating in the Armenian market since October 31, 1996.  The  shareholders of Ameriabank are Ameria Group CY Ltd. - 56.53%, EBRD -  17.78%, Asian Development Bank - 13.96%, ESPS Holding Limited -  11.73%. 

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