EBRD invests 40 mln USD in Ameriabank registered capital for future IPO

 

The project's aim is to support Ameriabank's capitalization and contribute to reaching of strategic goals of growth with future IPO. As a result the bank will significantly increase opportunities for financing small and medium business, large local enterprises as well as private entrepreneurs. The EBRD statement notes that this along with qualified service and up to date products and decisions will lead to increasing of financial mediation in the country and improvement of access to the financial resources. The project will also contribute to the consolidation and strengthening of segmented bank sector of the country due to merges and acquisitions. EBRD's involvement will also serve to improvement of corporate management through appointment of its representative in Ameriabank's Board and implementation of action plan related to process of future IPO.   

 

According to EBRD statement the total cost of the project may reach 55 mln USD from which 15 mln USD are potential investments, which will be attracted into the bank's capital from private investors. 

 

The cooperation between the bank and the EBRD commenced on September 30, 2010 and since then the EBRD provided finances assisting trade (through TFP fund), SME and energy efficiency projects. In the framework of partnership with international authoritative structures Ameriabank attracted financial funds amounted to 345 mln USD in total.

 

According to ArmInfo's Financial Rating of Armenian Banks, as of October 1 2015, Ameriabank had a leadership position in the local banking market by assets - 442.3bln drams (up 32.4% y-o- y), by credit exposures - 290.2 bln drams (up 40.1% y-o-y), business loans - 250.7bln drams (up 45.4%). The bank is among leaders also in terms of financing the industrial sector (including in energy fiend), agriculture, construction, trade, public catering and services.  Industrial loans were almost doubled - to 70.7bln drams (25% of total loan portfolio). Efficient placement of loans enabled the bank to increase net profits by 11.2% year on year to 5.1bln drams for 9 months of 2015 (2nd place in the market). The bank is among TOP-5 banks also by ROA - 2.07% (4th place) and ROE - 17.24% (2nd plane).  The bank has leadership positions by liabilities: both the time deposits and call liabilities.   Ameriabank CJSC is a universal bank offering corporate, investment and retail banking services in a comprehensive package of banking solutions. Ameria Group CY Ltd. is the sole owner of the Bank.