Thursday, December 16 2010 18:56

Ameriabank and EurAsian Development Bank sign credit contract at $30 mln for SME development


ArmInfo. Ameriabank and EADB signed today a credit contract at $30 mln for SME support and development for 5 years.


ArmInfo. Deputy Chairman of EurAsian Development Bank Marat Jaukenov said at today's press-conference, the SME in Armenia is of great strategical significance. Its share is about 40% in the GDP structure. He also added that the EADB signed four credit contracts at the territory of its member-states, the total sum of which is $94 mln. This is the second contract signed with Armenia. The first credit contract was signed between EADB and Ambusinessbank at a sum $20 mln.

More than 1800 job places, including 600 in Armenia were opened thanks to the credit funds of the EADB, he said and added that the credit funds were directed to development of small energy, food industry, pharmacy and agriculture.

For his part, Director General of Ameriabank Artak Hanesyan said that in 2010 the bank managed to attract $65 mln to support SME, $30 mln of which have been already placed. The share of the SME in the credit portfolio of the bank is 25%.

Hanesyan thanked representatives of EADB and employees of the investment sector of Ameriabank for operational flexibility which allowed the bank to sign the above mentioned contract this year. Ameriabank is going to place the funds attracted from EADB till the end of February 2011. He said that at present the bank has applications at the sum $15 mln. The credits to SME will be given for 5 years with 14% rate of interest. The sum of the credit within the frames of the given contract will not be limited.

According to the Ranking of Armenian commercial banks prepared by Arminfo, as of 1 October 2010 the assets of Ameriabank amounted to 152.5 bln drams (the second position in the banking system). As of 1 October 2010 Ameriabank is the leader on crediting of the industrial sector. According to the results of 9 months of 2010 the net profit of the bank amounted to 2.1 bln drams (the 4th position in the banking system).
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