Friday, February 11 2011 17:30
Ameriabank "gilds" its "structural" deposit
ArmInfo. Ameriabank has offered a new "Gold Structure" deposit to individuals. The press service of Ameriabank told ArmInfo that the deposit provides the depositors with an opportunity to receive income from the gold price growth in international markets.
According to the source, the minimal amount of the new deposit is 10 thsd USD, and the period is no less than 2 years. The investment in this deposit is equivalent to investments in gold for the deposit period; however, the main difference is that the bank guarantees return of initially committed facilities regardless of changes in gold prices, particularly, in case of gold price reduction.
In April 2010 the bank introduced a new "Structure" deposit in the financial market of Armenia. This deposit allowed the depositors to earn money in the international markets without risking to lose the committed facilities. Being a type of the "Structure" deposit, the new product also ensures fixed interest income in addition to the income formed in the international markets, like in case with traditional banking deposits.
The "Gold Structure" deposit provides an access to international markets and provides a unique opportunity to receive income from international markets without risking to lose both the main amount of the deposit and the income formed at the expense of fixed interest payments.
According to the Ranking of Commercial Banks of Armenia by the Agency of Rating Marketing Information (ArmInfo), as of 1 Jan 2011 Ameriabank occupies the second position in the banking system of Armenia by the volume of its time deposits (53.5 bln AMD, or 44.3% of total liabilities of the bank). In the structure of time deposits the share of individuals' deposits exceeds 49%, this index being a slightly lower that the deposits of legal entities. As compared with the same period of 2010, the portfolio of the bank's time deposits grew by almost 12%, and by 13.3% over Q4 2010 alone.
To recall, the majority shareholder of Ameriabank is TDA Holdings Limited affiliated Troika Dialog with 99.99% share in the bank's capital.
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