Ameriabank expected to ensure $6-6.5 million net profit for 2010

In addition, A. Hanesyan said that in 2010 three branches will be opened in Yerevan and in the towns of Dilijan, Gyumri or Vanadzor. In particular, the branch in Dilijan will open on March 5 after repairs. Another three branches will be opened in 2011 in Yerevan and in the towns of Kapan, Gyumri or Vanadzor. The construction at the branch in the capital city will be launched in the Q3 of 2010. By data of Ameriabank, in 2009 assets grew over 2 times to 103.5 billion drams. In the structure of assets, loans totaled 52.3% on January 1 2010, which is much higher than in 2008. Total capital of the bank on January 1 2010 amounted to 21.7 billion drams falling 6.7% per year. The share of the statutory capital in total was over 83% (18.2 billion drams). General obligations of the bank totaled 81.8 billion drams on January 1 2010 growing 2.8 times per year. The share of time deposits in general obligations totaled 55.7% or 45.6 billion drams growing 4 times per year.

The majority shareholder of Ameribank is TDA Holdings Limited, the affiliated company of the largest investment company in Russia Troika Dialog (99.9%).