Ameriabank increased the volume of retail deposits for 2016 by 19%

ArmInfo. The volume of  deposits of retail customers in Ameriabank increased by 19% in 2016,  from 144 billion AMD to 171 billion AMD (demand deposits and term  deposits from the sale of bank bonds). This March 21, at a press  conference, said the director of retail banking Ameriabank Arman  Barseghyan, adding that only time deposits of retail customers of the  bank grew by 22% in 2016 to 129 billion AMD.

"At the beginning of the bank's activity, the growth rates of retail  deposits varied between 20-30%. Now, in conditions of modest economic  growth, 19% is quite a serious and impressive figure, especially as  interest rates on deposits are reduced", he said.

According to the Financial Rating of Armenian Banks prepared by IC  ArmInfo, in 2016 Ameriabank's total liabilities increased by 43.2% to  653.9 billion AMD or $ 1.4 billion, due to the growth of demand  liabilities by 2 times to 188.6 billion AMD and time deposits by 12%  to 226.5 billion AMD. In 2016, the bank issued three issues of bonds:  in the II quarter USD bonds worth $ 15 million, and then in the  fourth quarter $ 5 million USD bonds and 1 billion AMD. 2016,  Ameriabank completed with a net profit of 6.2 billion AMD or $ 12.8  million, with growth by 29.2%.

To note, "Ameriabank" CJSC is a universal bank that provides  investment, corporate and retail banking services in the form of a  comprehensive package of banking solutions. The bank has been  operating in the Armenian market since October 31, 1996. The branch  network of Ameriabank today has 14 divisions, 8 of which are in  Moscow and 6 in regions. As of January 1, 2017, the Bank's  shareholders are Ameri Group with 65.8% equity interest, EBRD - 20.7%  and ESPS Holding Limited - 13.5%.