Ameriabank announces two new year campaigns for SMEs

ArmInfo.Ameriabank has announced two campaigns conducted by the end of 2018 for small and medium-sized businesses. As Arman Barseghyan, Director of Retail  Banking of Ameriabank, explained, within the framework of these  campaigns, SME representatives are offered more favorable conditions  for refinancing loans. He said this during an online press conference  held on October 17.

According to him, in the framework of the first campaign, Ameriabank  will assume the costs of transferring a loan from another bank to  itself. At the same time, the Bank will pay the client a lump sum in  the amount of 2% of the balance of the refinanced loan. "This could  be a major help for SMEs by the end of the year." Over the next 12  months of repayment of the principal amount of the loan, as the  banker noted, the debt burden will drop to 50%. "Debt relief will  allow SMEs to direct more funds to business development," he  stressed. Loans within this company will be financed at the Bank's  standard and competitive interest rates.  Moreover, as A. Barseghyan  stressed, Ameriabank provides loans for an amount equal to almost  100% of the value of the collateral. The offer is valid until the end  of 2018.

The second pre-New Year campaign of the Bank provides favorable  conditions for lending to SMEs. He said that before March 1, 2019,  interest rates on dram loans within this company will be 9.44%, on  dollar loans - 6.94%, on euro loans - 5.30%. "We are launching this  proposal on the basis that in the pre-New Year period the vast  majority of SMEs need additional funds that Ameriabank is ready to  offer in the form of short-term loans at attractive interest rates,"  said A. Barseghyan.

According to the Financial Ratings of Banks of Armenia as of July 1,  2018, prepared by ArmInfo IC, Ameriabank continues to lead in terms  of its main financial indicators. The bank's assets amounted to 693.5  billion drams ($ 1.4 billion, first position) with an annual growth  of 6.2%, credit investments - 495.3 billion drams ($ 1.03 billion,  first position) with an annual growth of 17.9%. In the loan portfolio  of the Bank, loans to the economy account for about 84% or 415.5  billion drams ($ 861.5 million, 1st position) with an annual growth  of 13.3%. Ameriabank's SME loan portfolio amounted to 85.1 billion  drams ($ 176.4 million, 2nd position in the market) or 17.2% of the  total loan portfolio of the bank and over 12% of total investments of  banks in this sector. Annually, the Bank increased its SME lending  portfolio by 14%. The first half of 2018, the Bank completed with a  net profit of 5.9 billion drams ($ 12.3 million, 1st position),  ensuring an annual growth of 77.4%.

Note that Ameriabank has been operating in the Armenian market since  October 31 1996 Shareholders of Ameribank on July 1, 2018 are Ameria  Group CY Ltd. - 56.6%, EBRD - 17.8%, Asian Development Bank - 13.98%,  ESPS Holding Limited - 11.62%. Ameriabank branch network for this  date It has 16 divisions, of which 10 are capital and 6 are regional.