EBRD awards Armswissbank TFP Awards as the most active issuing bank  in Armenia for the second year in a row

ArmInfo. European Bank for  Reconstruction and Development (EBRD) for the second year in a row,  this time following the results of 2019, names its trade finance  partner, Armswissbank, as the most active issuing bank in Armenia. As  the Bank's press service told ArmInfo, the TFP Awards ceremony, which  was to be held at the annual meeting and the EBRD business forum in  May 2020, had to be canceled due to the Covid-19 pandemic, but the  list of winners is presented on the EBRD published on June 4. The  winners of the honorary award were 27 banks, along with Armswissbank  TBC (Georgia), Belinvestbank (Belarus) and JSC Bank Centercredit  (Kazakhstan) are also on the list.

This award comes to attest the Bank's successful and year by year  growing activity within the scope of Trade Finance with EBRD.  Currently, ARMSWISSBANK has USD 22 mln limit approved by EBRD. It is  noteworthy that last year the Bank, as result of its multilateral and  effective cooperation with EBRD, has been granted with three other  awards as well, namely;

"Most Active Issuing Bank in Armenia in 2018" at EBRD's annual  meeting held in Sarajevo

"Agent For Change 2018" for its role in supporting green investments  in the food industry, as result of its efficient activity in the  field of renewable energy and energy efficient equipment  introduction.

Special award by Frontclear for repo transactions amounting AMD 6.6  bln (USD 13.5 mln) within the framework of the Global General Repo  Agreement (GMRA) concluded between the Bank and EBRD on January 2018.

The collaboration between ARMSWISSBANK CJSC and EBRD dates back to  2010. The cooperation has developed in a number of directions,  particularly, within the scope of SME Lending Program, Trade Finance  Program, GCF-GEFF Armenia Energy Efficiency Program and Global Master  Repo Agreement (GMRA), which regulates the process of concluding repo  transactions with securities in international financial markets.

The list of winners is published on EBRD website under the following  link: https://www.ebrd.com/news/2020/-  ebrd-tfpawards-recognise-successful-partner-banks-from-three-continents-  .html?fbclid=IwAR3rN6f1rnQloWoQ9Np3Yo9n0OJMF3xfYHappGZvQ4HcnHvAoGnYABgzhTY

According to the Financial Rating of the Banks of Armenia prepared by  ArmInfo IC as of January 1, 2020, Armswissbank increased its loan  portfolio by 27.5% per annum. About 80% of it accounts for corporate  lending, the volume of which the bank increased by 24% in 2019. About  34% of the bank's loan portfolio is credited to the industrial sector  (including the energy complex), and almost 12% each to the  agricultural sector, construction, and the retail sector. SME lending  accounts for over 37% of Armswissbank's loan portfolio, with y-o-y  growth of 27.3%. The bank completed the year 2019 with a net profit  of 9 billion drams ($ 18.8 million), ensuring a y-o-y growth of  78.1%. Armswissbank is a leader in terms of efficiency ratios: the  first position in terms of return on assets (ROA) and the second  position in terms of return on equity (ROE).

To recall, Armswissbank CJSC was established on October 7, 2004. As  of April 1, 2020, the holder of 85.53% stake in Armswissbank is HVS  Holding LLC, managed by Vartan Sirmakes and registered in Luxembourg,  and the remaining 12.47% are owned by FMTM Distribution Ltd, and  indirect shareholder is Vartan Sirmakes and Chrono Star International  Participations Group Franck Muller S.a.r.l.

To note, EBRD is a major international institutional investor. Since  the start of EBRD activities in Armenia, namely since 1992, to this  day 1.4 billion euros have been invested in the implementation of 180  programs in the financial, corporate, infrastructure, energy sectors.  Moreover, 87% of these investments are directed to the development of  private enterprise. Since 2006, EBRD has allocated a total of 26  billion euros to 38 countries around the world, where the Bank has  representative offices for the transition to a green economy. The  EBRD portfolio of the trade finance program currently exceeds 5  billion euros in 30 countries. In 2020, the program TFP stepped up  its support by securing increased trade finance for a record 1.5  billion euros in the first five months.