Thursday, April 1 2010 10:04

Ameriabank is considering expansion into regional markets: Georgia, Southern Russia, Ukraine


ArmInfo. Ameriabank is considering expansion into regional markets: Georgia, Southern Russia, Ukraine, Director General of Ameriabank Artak Hanessyan said during a press-conference today.

The bank may buy either banks or stakes in the capitals of developing and successful manufacturing and power companies. For this purpose the bank has earmarked some $5mln. There are three specific candidates for merger.

"We have already set up an Ameria Equity Partners with $20mln capital and are going to increase it fivefold by the end of this year. All this money will be spent on profitable businesses," Hanessyan said.

In May 2010 Ameriabank is going to review its investment strategy but no drastic changes will be made. The bank may just consider active growth in all of its key figures and expansion into regional markets. Ameriabank's strategy for 2010 stipulates 25% increase in credit portfolio (with merger-induced growth exclusive).
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