Thursday, October 31 2013

 By the end of this year Ameriabank is planning to increase its trade financing portfolio to $70mln, Corporate Banking Director of Ameriabank Gagik Sahakyan told journalists on Wednesday.

He said that in Q3 2013 the bank's financial instruments and guarantees made up $53mln (29% more than in Q3 2012). As of Oct 1 2013 the bank had concluded 150 trade financing transactions (12% more than a year before).

Answering to ArmInfo's question, Sahakyan said that imports and exports have 60% and 40% respective shares in the bank's trade financing portfolio, with preference given to the import of equipment, garment, sugar and wheat and the export of agricultural produce and textile.
According to surveys by Ameriabank, the EBRD, the IFC and the Global Trade Finance, the bank has more than 50% of Armenia's trade financing market, with its trade financing instruments highly reputed not only in Armenia but in the whole region.

During the same period the bank's factoring portfolio made up $6.5mln (77% more than in Q3 2012). This year the bank has joined Factors Chain International. "We already have several deals with BNP Paribas there," Sahakyan said.

In Q3 2013 the leasing portfolio of the bank made up $7mln (10% less than a year before).

The majority shareholder of Ameriabank is America Group. The bank has five branches in Yerevan and ones in Kajaran, Dilijan, Vanadzor and the Nagorno-Karabakh Republic.