Wednesday, February 16 2011 11:57

Trade financing portfolio of Ameriabank grows to USD 40 mln


ArmInfo. The trade financing portfolio of Ameriabank has grown to $40 mln, the press service of the bank told ArmInfo. The source said that the active development of the trade financing segment has become possible thanks to expansion of cooperation with international structures and leading foreign banks. The source recalled that within the frames of the international trade financing program, the pool center of forteign banks headed by the IFC and EBRD provided Ameriabank with a credit line worth $40 mln, of them $8 mln provided by Citibank nd BNP Paribas has not been used yet. According to the source, in order to manage the daily cash flows, Citibank opened a 5 mln USD credit line for Ameriabank. According to the Ranking of Commercial Banks of Armenia prepared by the Agency of Rating Marketing Information (ArmInfo), as of 1 Jan 2010 the total provision of crediting of Ameriabank amounted to 101.7 bln AMD (28.5% annual growth). 74% of the credit portfolio falls on the loans for economy. By this parameter the bank occupied the 2nd position in the banking system.

To recall, the majority shareholder of Ameriabank is TDA Holdings Limited affiliated with Troika Dialog, with 99.99% participation.
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