Saturday, April 23 2011 11:34
Ameriabank intends to increase provision of crediting by 30-40% focusing on development of SME crediting programs
ArmInfo. Ameriabank intends to increase provision of crediting by 30-40% by late 2011 focusing on development of SME crediting programs, Development Director of Ameriabank Tigran Jrbashyan said at today's press conference.
He recalled that by April 20 2011 the total credit portfolio of the bank made up 111 bln AMD (including financial leasing and factoring). Over Q1 2011 Ameriabank's provision of crediting grew by 17% and made up 103 bln AMD (over $278 mln). The portfolio of loans to small and medium enterprises amounted to 8.5 bln AMD as of the end of Q1.
By late March the bank's assets amounted to 160.5 bln AMD (45% annual growth). By this indicator, the bank still holds the second position in the banking system of Armenia. The bank's liabilities amounted to 127.8 bln AMD (almost 45% annual growth), ensuring the second position in the banking system. The capital annually grew by 46.7% to 32.7 bln AMD (second position).
Jrbashyan said that the number of the bank's customers has considerably grown to 28.5 thsd, of them 2,600 being legal entities and 26,000 individuals. He added that the in 2011 the bank will continue the policy of extending retail crediting. As of the end of Q1 2011, the volume of credits provided to individuals made up 15.3 bln AMD. By this indicator, the bank still holds the 6th position in the banking system of Armenia.
He stressed that the bank's loans are long-term, and the priority sectors are still the ore mining industry, energy, and food industry. "The processing industry is one of the serious segments for the bank. Here we have a quite serious portfolio (about $30 mln) and quite many serious partners", he said.
The bank actively continues the cooperation with international structures. Jrbashyan said that in 2011 the bank is going to attract 40-50 mln USD. This money will mainly be directed to SME development.
Over Q1 2011 the time deposits of individuals in Ameriabank grew by 11%. As of April 20 2011, this indicator made up 29 bln AMD. The call liabilities are also growing - by the beginning of the year their growth made up 12-13%.
The next quarter will be marked by introduction of a number of innovative products. The bank has almost completed the elaboration of a new product for individuals making passive investments. "This product will be a serious innovation in the market and will allow us to expand the clientele base on part of small and medium enterprises", he said. One more product meant for Diaspora will be launched in mid May. The bank has been working at it since September 2010.
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