Wednesday, September 17 2014 17:27
In 2015 Ameriabank intends to increase its corporate lending portfolio to 520 mln USD and retain leadership in Armenia's banking system
ArmInfo. In 2015 Ameriabank is going to increase its corporate lending portfolio from $70 mln to $520 mln and retain leadership in the Armenian banking system, Gagik Sahakyan, Corporate Banking Director at Ameriabank, said when replying to ArmInfo's question at today's briefing. He specified that the Bank intends to increase the portfolio to $460 mln by late 2014. He said that it is a quite attainable indicator, because as of 1 Sept 2014 the Bank's corporate lending portfolio amounted to $430 mln, including 405 mln USD as loans (letters of credit and bank guarantees exclusive).
Sahakyan pointed out that in the total loan book of the Bank the share of corporate loans is 82%. The Bank's lending keeps focusing on SMEs, renewable energy, mining, food and processing industry, agriculture. From early 2014 till September 1, the Bank increased the SME loan book by 29.4% and is planning to accelerate the growth rates to 40%. In addition, the Bank raised large business lending by 13.2% in Jan-Aug 2014. As regards renewable energy, Sahakyan stressed that 80% of the loans in this segment are serviced by Ameriabank, whose loan book in the energy sector amounted to 17 bln AMD by 1 July 2014.
"It is an interesting dimension for us and we keep focusing on it. In particular, the matter concerns small- scale HPPs, and here we are ready to deal with long-term projects, even in case of some risks. As compared with this dimension, the trade sector is more risky in terms of lending, but this sector is also interesting to the Bank. Moreover, we provide loans to both retail and wholesale trade. We rapidly respond to the global changes. Today, amid the sanctions against Russia, we see some export prospects for the Armenian producers of agricultural products, for instance, the food producers (processing enterprises), greenhouse facilities", said Sahakyan. He recalled that Ameriabank was the first Armenian bank to finance the greenhouse facilities and demonstrated high indices in 2013.
As regards the mining industry, particularly, the large enterprises, which are Ameriabank's customers, Sahakyan said that the fluctuation in international prices may lead to serious problems in this sector, which will be dampened by the serious safety cushion formed by these enterprises. "We are interested in supporting our customers in case the situation deteriorates. This is an attractive segment in terms of export regardless of the sanctions against Russia", said Sahakyan.
"We display an individual approach to the corporate customers and take into account each borrower's demands, ranging from the choice of the products to the terms of the lending. Certainly, we also take into account the Bank's capacities to make concessions and the Bank's interest in the given segment of lending", he said.
When forecasting the dynamics of the Bank's corporate portfolio, Sahakyan said that 27.5% growth was targeted for Ameriabank's strategic development for 2014, but by September 2014 even more growth was ensured and it is expected to reach 35% by late 2014. As of 1 Sept 2014, the Bank's trade finance portfolio made up almost $50 mln (43% year over year rise, 17% rise in Jan-Aug 2014). The Bank's factoring portfolio totals $15 mln, leasing portfolio exceeds $5 mln, documentary letters of credit total over $29 mln, bank guarantees - almost $18 mln. Ameriabank's share in the trade finance market exceeds 40%.
According to the Financial Rating of Armenian Banks prepared by the Agency of Rating Marketing Information, as of 1 July 2014 Ameriabank's assets amounted to 343 bln AMD (1st position in the Armenian banking system). In the structure of assets the share of lending makes up about 55%. The share of industry in the Bank's loan book is 33.5 bln AMD (17.2% of the loan book), agriculture - about 67 bln AMD (34.4%), construction - 5.4 bln AMD (2.8%), transport and communication - 4.8 bln AMD (2.5%), trade - 20.4 bln AMD (10.5%).
Ameriabank CJSC is a universal bank offering corporate, investment and retail banking services in a comprehensive package of banking solutions. America Group CY Ltd. is the sole owner of Ameriabank.
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