Arman Barseghyan: Ameriabank`s retail lending portfolio will exceed 70 billion AMD by the end of 2017

ArmInfo. Ameriabank's retail  lending portfolio will exceed 70 billion AMD by the end of 2017 (this  is a sharp jump in the bank in TOP-5 in this indicator - Ed.). Arment  Barseghyan, director of Ameriabank for retail banking, said this,  answering the question of ArmInfo during a press conference on  October 24. He explained that the acceleration of the growth of the  loan portfolio of the bank will be provided by launching two new  credit campaigns - for SMEs and natural persons.

At the same time, A. Barseghyan said that Ameriabank intends to  maintain the growth rates of net profit, which as of September 30  2017 reached 5.4 billion AMD, having exceeded the level of the annual  statute by 53.6%. At the same time, he explained that it will be  possible to ensure high growth rates due to the improvement of the  quality of the loan portfolio in parallel with the increase in  lending, in particular retail, and at the same time strict control of  expenditure management will continue.

"Today the economy has moved into the recovery phase, which  positively affects our performance and the level of reserves for  loans," he stressed.

Following the results of 9 months of 2017 Ameriabank took the leading  positions on the main balance indicators. Thus, the assets of the  Bank increased to 667.3 billion AMD by 1 October (with a 16% market  share), of which 422.6 billion AMD were credit investments (17% -  market share), total liabilities to 598.8 billion AMD (17% - market  share), incl. 395.7 billion AMD - liabilities to customers (16% -  market share).

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 - metropolitan and 6 - regional.  As of October 1, 2017, the Bank's shareholders are Ameri Group with  65.8% equity interest, EBRD - 20.7% and ESPS Holding Limited - 13.5%.