Ameriabank awarded a status of the most active issuer by EBRD

 The European Bank for Reconstruction and Development (EBRD) has awarded a status of the most active issuer in Armenia in 2012 to Ameriabank. The press service of Ameriabank told ArmInfo that the official award ceremony took place in Istanbul during the event organized by the EBRD within the Trade Finance Program.  

The source says that the award demonstrates the active and efficient trade finance activity of Ameriabank.  To increase trade finance, the Bank keeps on effectively cooperating with international financial structures and recognized foreign banks. As a result, the loan facility approved for Ameriabank already exceeds 100 mln USD.    

Ameriabank remains a leader in trade finance in Armenia, expanding the borders of cooperation with importers and exporters with every passing day. In 2012 the total amount of servicing of export and import operations via payment instruments exceeded 150 mln USD (75% more than a year before). In Q1 2013 Ameriabank's portfolio of letters of credit and bank guarantees totaled almost 50 mln USD (90% more than a year before). The amount of letters of credit doubled and bank guarantees were up 56% as compared with Q1 2012.

During the same event the European Bank for Reconstruction and Development (EBRD) awarded Ameriabank the status of confirming bank as part of the Trade Finance Project. The status is of big importance for development of trade finance in the region. This will boost exports and make export letter of credit, confirmation and bank guarantee service more accessible for exports. The status of confirming bank is an achievement, as Ameribank has been included in the list of EBRD confirming banks. This fact once again confirms the high status of Ameriabank as a reliable and recognized business partner in the international arena. In late November 2012 Ameriabank introduced a new service - acceptance of letters of credit  (an advising bank). The first contract unique for the Armenian banking
system had been signed later connecting a foreign bank with an Armenian company. Introduction of this service will give more opportunities to Armenian companies to find new export markets. The new banking service enables Ameriabank to boost cooperation with big foreign banks to attract more trade finance customers. For this purpose, Ameriabank has already introduced a service of issue of letters of credit.

Ameriabank CJSC is a universal bank providing investment, corporate and retail banking services in a full package of bank services. The majority shareholder of the bank is America Group (since Nov 2011) with 99.99% shares.