Thursday, October 27 2011 16:04
Commerzbank approves a loan for Ameriabank for on-lending to small and medium enterprises
ArmInfo. Commerzbank (Germany) has approved a bilateral unsecured loan for Ameriabank.
The press service of Ameriabank told ArmInfo that the bank will onlend the loan to the small and medium enterprises on competitive terms.
"Commerzbank has concluded the loan agreement with due regard for Ameriabank's image as a reliable partner, as well as for its stable financial state and highly responsible activity in the international arena", the source says.
To remind, this is Commerzbank's second transaction with Ameriabank, which is unprecedented for the Armenian banking system. In May 2011 Commerzbank approved a banking guarantee for Ameriabank in the national currency.
According to the financial report for 30 Sept 2011, the credit portfolio of Ameriabank amounted to 127.7 bln AMD (42.7% growth over Jan-Sept). In its structure, over 13% or 16.9 bln AMD fell on the loans to small and medium enterprises (over twofold growth as compared to early 2011).