Friday, May 13 2016 17:41
Alina Hovhannisyan

Ameriabank to use 20 mln USD attracted from DEG for SME lending

Ameriabank to use 20 mln USD attracted from DEG for SME lending

ArmInfo. Ameriabank signed a 20 mln USD loan agreement for financing SME with DEG a large European financial organization. The sides signed the agreement on May 12 in London and Financial Director of Ameriabank Gevorg Tarumyan presented the details of it at today's press conference noting that the maturity period of the loan is 6 years.

The financial director of Ameriabank emphasized that SME will remain the priority sector for the bank's lending. "As the funds have been attracted for a long term this will allow us providing loans to SME entities on more beneficial terms. It is very important that compared to our neighbors Armenia still remains an attractive market for foreign partners-investors", Tarumyan stated referring to the new agreement with DEG.

In an interview to ArmInfo's correspondent Tarumyan noted that Ameriabank has no restrictions related to the SME industry segments.  At the same time he added that the amount of loans given in the frameworks of the abovementioned agreement will be between 20 thousand USD and 1.5 mln USD, the maturity period -8 years ad the interest rate is fixed at annual 10-12%. To note, Ameriabank cooperates with DEG since 2009.

To recall, Ameriabank retains leadership in such key financial parameters as assets, lending, corporate financing, general obligations, lending, investment in securities, and payables to the customers. In addition, the Bank is confidently advancing to leading positions in terms of net profit, total capital, authorized capital, interest and non- interest incomes.  Efficient lending helped the bank increase profits.  With EBRD entering its capital, Ameriabank will become the leader by total and statutory capitals too. So far, before the EBRD's investments are registered, the bank's shareholder is Ameria Group CY Ltd - 100%.  As an absolute leader in the market by assets, loans, liabilities and deposits, Ameriabank provides full- fledged solutions in corporate, retail and investment banking. Having multiple excellency awards by Euromoney (2014, 2012, 2011), Global Finance (2015, 2012, 201 3), The Banker/FT (2015, 2013, 2010), Ameriabank is committed to invest in cutting-edge technologies and unparalleled customer service. 

To note, DEG is a wholly owned subsidiary of KfW Group. The mission of DEG is to promote business initiative in developing and emerging market countries as a contribution to sustainable growth and improved living conditions of the local population.

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