ArmInfo. Ameriabank's online consumer loan portfolio has grown by 70% since the beginning of the year, reaching 24 billion drams.
This was announced on November 20 during an online press conference by Arman Barseghyan, Director of Retail Banking, Ameriabank, emphasizing that their share in the bank's total consumer loan portfolio reached 92%, despite the fact that this service was launched only a year and a half ago. By the end of September, the retail loan portfolio exceeded 160 billion, demonstrating a growth of 40% over 9 months.
According to Barseghyan, the growth rate of lending to individuals is higher than corporate lending, which is mainly due to the upward trend in consumer and mortgage loans. He also emphasized that since the beginning of the year the number of individual customers has increased from 200 thousand to 250 thousand, while the portfolio of deposits of individuals from 244 billion drams has increased to more than 280 billion drams. Positive trends are also observed in car loans. Thus, since the beginning of the year, auto loans of almost 3 billion drams have been issued, which is 40% higher than the annual indicator. "Taking into account high growth rates, quality remains the main thing for us. And at the moment we have formed a fairly high-quality portfolio where overdue loans account for up to 2-3%", he added.
In general, starting from 2015, as the banker noted, Ameriabank has been a leader in the banking system of the Republic of Armenia by the main indicators. In particular, over the past 5 years, Ameriabank has provided an average y-o-y growth of 20% in terms of indicators, retaining leadership.
According to the Financial Rating of the Banks of Armenia prepared by ArmInfo IC as of September 30, 2019, Ameriabank's assets reached 820.1 billion drams (y-o-y growth of 15.5%), total capital - 96.5 billion drams (y-o-y growth of 10.4%), total liabilities - 723.6 billion drams (y-o-y growth of 16.2%). Ameriabank completed 9 months of 2019 with a net profit of 8.8 billion drams, with a y-o-y growth of 8.5%. Moreover, in Q3 alone net profit of the bank increased by 28.3% to 3.2 billion drams (The calculated exchange rate of the dram on September 30, 2019 was 475.97 AMD / $ 1).
To recall, Ameriabank is a universal bank offering corporate, retail and investment services in a comprehensive package. Ameriabank has been operating in the Armenian market since October 31, 1996. The shareholders of Ameriabank are Ameria Group CY Ltd. - 56.53%, EBRD - 17.78%, Asian Development Bank - 13.96%, ESPS Holding Limited - 11.73%.