Thursday, February 16 2012 20:42
Ameriabank to redouble lending to SMEs in 2012
ArmInfo. Ameriabank is going to redouble lending to small and medium-sized enterprises this year, Corporate Banking Manager of Ameriabank Gagik Sahakyan told journalists on Thursday.
He said that in 2011 the bank lent SMEs almost 19bln AMD (four times as much as a year before).
"For increasing lending to SMEs we are planning to use both our own money and the funds of donor organizations, from whom we are planning to borrow $50mln-70mln," Sahakyan said.
He said that in its lending activities the bank focuses on trade, industry and construction. This year the bank will give priority agriculture, where it has already funded several greenhouse projects.
The bank is also developing factoring and leasing activities. In 2012 the factoring portfolio will be redoubled. In 2011 the leasing portfolio was increased to 1.8bln AMD from just 800mln AMD a year before.
According to ArmInfo's Ranking of Commercial Banks of Armenia, at the end of 2011 Ameriabank's loan book totaled 141.8bln AMD (1st place in Armenia's banking system), with 80% of the loans or 112.8bln AMD given to the real sector (50% more than a year before).
The assets grew by 32% to $522.1mln (2nd place), the capital by 10% to $91mln (2nd place), the accumulated profit by 47% to $24.7mln, the authorized capital stayed at $66mln, the net profit grew by 37.3% to $11.3mln.
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