Tuesday, July 31 2012 20:50
Ameriabank retains leadership position in terms of trade finance
ArmInfo. Ameriabank retains the leadership position in the local market in terms in trade finance. The bank's portfolio of trade finance for the first half of 2012 exceeded 21 billion drams (over $50 million). For comparison, the bank's press-service mentions that the trade finance portfolio of the bank for 2011 totaled 24 billion drams.
Ameriabank press-service told ArmInfo that financing of export/import operations for the 1st half of 2012 in total portfolio made up 6 billion drams (8 billion drams for 2011), letters of credit totaled over 12 billion drams (over 10 billion drams in 2011), and bank guarantees and stand-by letters of credit (SBLC) exceeded 3 billion drams (6 billion drams in 2011).
To increase trade finance, the bank is effectively cooperating with international structures and foreign banks, which will contribute to enhance the commodity turnover of Armenia. The bank actively cooperates with IFC, EBRD, Asian Development Bank, and some foreign banks, including Citibank, BNP Paribas, Commerzbank, UNICREDIT, and has already got a credit limit exceeding $80 million. Alongside with the growing trade finance, the bank is expected to announce more flexible terms of financing and modern methods of operations.
Ranking of the Armenian Banks prepared by ArmInfo Agency says Ameriabank retains the leadership positions in terms of key figures. The bank is on the 2nd position in terms of credit exposures - over 159 billion drams on July 1 2012 with a 23.5% growth versus July 2011 and 12% growth for Q2 2012. As a result, interest incomes of the bank also grew, which allowed the bank to retain its 3rd position. Over 80% of the loan portfolio is loans to economy sectors that grew 28% versus the first half of 2011 and 16% for Q2 2012 to nearly 130 billion drams (1st position). The share of trade finance and industrial loans in the loan portfolio of the bank is the largest. The bank is on the 2nd position by assets - nearly 222 billion drams (up 25% versus first half of 2012 and 12% for Q2 2012). In the asset structure, the share of the loan portfolio is nearly 72%. The bank received 2.5 billion drams net profits for the first half of 2012 (2nd position), with a 58% growth versus the same period of 2011. Net profits for Q2 2012 totaled 1.5 billion drams, with a 56% growth versus Q1 2012.
Ameriabank is a universal bank providing a full package of bank services. the majority shareholder of the bank is America Group (CY) Limited (99.99% share).
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