By 2017 Ameriabank intends to increase loan portfolio to $1bln and retain leadership

ArmInfo. Ameriabank intends to increase loan portfolio to $1bln by the end of 2017 from the current $858 mln, Ameriabank's Corporate Banking Director Gagik Sahakyan stated at the press conference today.

According to him growth of loan portfolio of the bank from 352.3 bln in September to current 410 bln AMD demonstrates that the quality of the provided services and approaches in work with clients is quite competitive and this helps to increase loan portfolio at the same time improving its quality.

In a talk to ArmInfo's correspondent Sahakyan stated that next year Ameriabank will retain leading position in lending and will ensure more significant amounts. According to him this will be done due to first and foremost expected economic growth, launch of new projects and increase of the bank's share in the market.

At the same time Sahakyan noted that the bank intends to continue actively developing lending and in this context it has developed beneficial terms and has eased the procedures of signing loan agreement. Thus, according to him the companies that will meet the standards set by Ameriabank may enjoy special offers with interest rates lower by 2% and highest threshold of loan at 1 bln drams.

Ameriabank has also set the following benefits for the loans with property collateral: the loan may be provided to the client after evaluating his/her credit capacity or without such an evaluation. If the client's credit worthiness is not assessed the loan is provided amounting to up to 30% of the cost of collateral, in case credit capacity is assessed the threshold is set at up to 60%. Besides, the procedure of getting the loan has been facilitated: from now on the loan can be documented with one basic agreement.

According to the Ranking of Armenian Banks by the Agency of Rating Marketing Information (ArmInfo), as of 1 October 2016 Ameriabank took the lead in lending 352.3 bln AMD ($742.5 mln), with a 21.4%  year-over-year growth. 87% of this amount or 306.8 bln drams ($646.6 mln) were directed into the country's economy. The bank increased the amount of economy lending by 22.4% year-over-year. By 1 October 2016, Ameriabank's net profit totaled 3.5 bln AMD ($7.4 mln) and gained leadership on the market.