Friday, January 20 2017 16:29

ArmInfo. Ameriabank retains leadership by main financial indicators ensuring high growth rates. According to the data of Express Ranking of Armenian Banks prepared by ArmInfo the bank's assets grew by 39.2% in 2016 to 718.3 bln drams or $1.5 bln due to growth of loan portfolio by 63% and investments in government securities by 63.4%. As a result the bank increased amounts of lending to 501.4 bln drams or $1.04 bln, while investments in state securities to 48.7bln drams or $100.6 mln. To note for comparison that in 2015 the growth rates were more moderate: assets grew by 29%, loan portfolio by 12.4%, investments in state securities-by 45.5%.

In 2016 Ameriabank increased general obligations by 43.2% to 653.9 bln drams or $1.4 bln versus 27.7% growth a year ago. In their structure liabilities against clients (time deposits and call liabilities) grew by 41% to 414.6 bln drams or $856.7 mln, the same growth was ensured in 2015.  Growth rates of loans attracted from international financial structures accelerated to 61.6% from 22% forming a portfolio amounting to 225.1 bln drams or $465.1 mln.

The Bank increased interest yield by 19.3% in 2016, at the same time interest expenses grew more significantly by 32%, along with which non-interest yield declined by 11.3% with more significant decline of non-interest expenses (by 37.8%). Commission fees grew in 2016 by 16% amid growth of commission expenses by 25.3%. Operational expenses declined by 44.8% amid growth of operational expenses by 15.3%, while administrative expenses grew by 60% to 9.4 bln drams, in their structure the wages fund has remained almost unchanged (5.7 bln drams).

The total capital of the bank increased by 8.6% to 64.4 bln drams or $133.1 mln due to growth of accumulated profit by 23.4% to 24.3 bln drams or $50.1 mln and sharp change of revaluation reserve from negative to positive level. At the yearend 2016 the Bank had net profit amounting to 6.2 bln drams or $12.8 mln ensuring 29.2% growth. In the structure of balance profit (prior to paying taxes) the share of profit from foreign currency transactions declined to 32.5% or 2.5 bln drams in the reported year versus 71.3% a year ago. Total regulatory capital of the bank reached 81.9 bln drams by Jan 1 2017, which exceeds the normative minimum capital requirement (30 bln drams) almost 3-fold. The bank ensured capital adequacy ratio at the level of 15.87% (amid required min of 12%), overall liquidity -31.23% (required min-15%), day-to-day liquidity- 133.17% (amid required min 60%) versus 15.07%, 29.91% and 151.26% respectively in 2015.

To note, Ameriabank is a universal bank providing investment, corporate and retail banking services. The bank has operated in the Armenian market since October 31 1996.  The network of the bank comprises 12 branches, 8 of which in Yerevan and 4 in the regions. The shareholders are Ameria Group CY Ltd (79.3%) and EBRD (20.7%). The bank is among leaders by lending to industrial sector (including energy), agriculture, construction field, trade sector, transport and communications, public catering and services, mortgage lending. The Bank retains leadership also by time deposits and call liabilities. In the middle of 2016 the bank issued coupon dollar bonds amounting to $15 mln (the main "Abond" list of NASDAQ OMX Armenia). At the same time, in June 2016 Ameriabank successfully placed debt securities amounting to $20 mln via its investment manager in the name of ResponsAbility Investments AG in four Luxemburg investment funds, planning to direct the attracted funds for lending to SMEs and financing of energy efficiency and renewable energy programs. The Bank has multiple Excellency awards by Euromoney (2014, 2012, 2011), Global Finance (2015, 2012, 2013), The Banker/FT (2016, 2015, 2013, 2010) and Commerzbank, the bank has been annually awarded STP Award since 2008.