Friday, March 5 2010 10:47

By the end of 2010 Ameriabank is planning to increase its credit portfolio by $80mln


By the end of 2010 Ameriabank is planning to increase its credit portfolio by $80mln, Director General of Ameriabank Artak Hanessyan said during a press-conference today.

Presently, the bank's credit portfolio totals $150mln. In Jan-Mar 2010 the index grew by 9.6% (57bln AMD). The share of inactive loans is 0.6%. By the end of this year this index may grow to 2.5%.

Ameriabank is plannig to ensure the growth not only by enlarging its own resources but also by borrowing funds from international financial organizations. Shortly, the bank is going to sign SME support and trade financing agreements with EBRD. The projects cost $5mln each. The bank has current SME support programs worth a total of $20mln. This year Ameriabank will actively credit the energy sector not only in the framework of IFC's renewable energy development program but also under FMO, DEG and, probably, EBRD financing.

In Jan 2010 as compared with Jan 2009 the credit portfolifo of Ameriabank almost redoubled due to 176% growth in corporate credits and 130% increase in retail loans. This resulted in growth in assets wherein the share of loans made up 56.8%.
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