Ameria Bank entered TOP 3 Armenian banks inrespect to retail business

ArmInfo. Based on results of  2016, America bank occupies the 3rd position at the retail business  markert in the banking system of Armenia. According to clarifications  of Arman Barseghyan, the Retaild Banking Director and   Ameria Bank  Directors Board member, several years ago, in 2008, the bank occupied  the 8th position. 

He informed also, that the retail loan portfolio  of the bank could  be increased during the reported yearc for 28,5% - up to 57,2 bln  AMD. " In this respect i could state that Ameria bank  has  implemented the task contained in the strategic plan, fully, while  the retail loan aspect was mentioned as one of the priorities of  strategic plan," he mentioned. 

At the same time, according to Barseghyan,  first time in the history  of Armenian banking system Ameriabank succeed with reaching the  unprecedented  volume if loans, which has exceeded the USD 1 bln mark  as of  January 1, 2017.  Based on results of 2016, the Ameriabank is  the leader of Armenian banking system in respect to all the genreal  indicators: assets, liabilities, credit portfolio,  deposits, benefit  and equity capital, which is a very good base for the exit of the  bank to the international market of IPO," he accentuated. 

According to the Financial Rating of the Armenian Banks, prepared by   IC ArmInfo, the volume of agricultural crediting declined by 0.7% to   201.9 billion AMD ($ 312 million) in 2016, against the growth by   18.3% a year earlier. But the dynamics of lending to the industrial   sector, on the contrary, improved from 8.2% decline in 2015 to a   15.4% growth, amounting to 453.3 billion AMD ($ 936.7 million). In   the agricultural sector, over 19% of bad loans from the total volume   of hopeless, accumulated, and in the industrial sector  about 17%,   with the absolute value of bad loans growing 2.2 times in the annual   section, and 8.6% in the bad loans of the industrial sector. In the   total loan portfolio of banks, the share of lending to the industrial   sector is 17%, and that of agricultural loans 5.7%. For the year of   2016, the net profit of the banking system of Armenia sank by 30% to   18.3 billion drams ($ 37.8 million), which, in all probability, is   the result of clearing the loan portfolio from toxic credits. In   2015-2016, four banks emerged from the banking market: ProCredit,   BTA, Areximbank- Gazprombank Group and the Armenian Development Bank,   which combined with INECOBANK, Armeconombank, Ardshinbank and  Araratbank, respectively.

To note, CJSC "Ameriabank" is a universal bank that offers the  investment, corporative and retail banking services. The shareholder  of the bank is Ameria Group CY Ltd. with 100% share in the capital.