Wednesday, July 20 2011 12:50

Ameriabank and Citibank sign a CARTA agreement worth 4 mln USD


ArmInfo. Ameriabank and Citibank (USA) signed a Continuing Agreement for Reimbursement of Trade Advances to attract 4 mln USD for trade financing.

The press service of Ameriabank told ArmInfo that Citibank has provided the given money funds to the Armenian bank, taking into account the stable state and Ameriabank's activity, which inspires big confidence. Within the frames of the attracted resources, Ameriabank will provide the loans to the customers on competitive terms and will expand the opportunities of financing the foreign trade transactions of the customers.

To recall, Ameriabank cooperates with Citibank under other agreements as well. In particular, credit lines on daily management of cash money flows and transactions on trade financing are opened.

According to the preliminary data of Ameriabank, by the end of the first half-year of 2011 the credit portfolio of the bank amounted to about 115 bln AMD, having increased by 12% since the beginning of the year, and by 60% as compared with the same period of 2010. The majority shareholder of the bank is TDA Holdings Limited affiliated with Troika Dialog, with 99.99% share of participation.
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