Tuesday, June 8 2021 17:04

AraratBank raises USD 14.5 m arranged by Symbiotics

AraratBank raises USD 14.5 m arranged by Symbiotics

ArmInfo. Symbiotics arranges a Sustainability Bond in Armenia with AraratBank for USD 14.5 million․ Symbiotics, the leading market access platform for impact investing, has arranged a USD 14.5 million Sustainability Bond for AraratBank.

Proparco, the private sector financing arm of Agence Française de Développement Group (AFD Group), has made a USD 5 million subscription to this Sustainability Bond. “With their support we trust to issue more Green and Sustainable bonds in the coming months and convince European investors to increase their investments in sustainable finance,” stated by Symbiotics press service.

The proceeds of the Sustainability Bond will finance both Social and Green eligible loans. Microenterprises and SMEs will benefit from the Social loans to encourage employment creation and business activity in the country. While Green loans will be dedicated to the promotion of renewable energy, energy efficiency, green buildings and clean transportation.

“With this Sustainability Bond issuance, AraratBank showcases its commitment to sustainable finance and promotion of environmentally and socially beneficial loans. Sustainability bond proceeds will be used to finance projects that support job creation and economic growth, as well as contribute to combating climate change,” said Daniel Schriber, Head of Investments of Symbiotics.

“By adopting a long-term strategy for sustainable development, AraratBank highlights favorable financing and investments to create a prosperous, sustainable future for society and businesses, prioritizing the financing of projects that will make cities and communities environmentally safe and sound in the long run,” said Mher Ananyan, Chairman of the Executive Board of AraratBank.

“We are pleased to be assisting a recognized player like Symbiotics with the development of this innovative and inclusive Sustainability Bond for AraratBank in Armenia. We need more green and social bonds for emerging markets. This project is fully in line with Proparco’s priorities and climate strategy”, said Gregory Clemente, Chief Executive Officer of Proparco.

This bond is issued via Symbiotics’ sponsored bond issuance platform (Micro, Small & Medium Enterprises Bonds S.A.) under its Sustainability, Social and Green Bond Framework, which was certified in December 2019 by DNV GL. The Sustainability Bond has been listed on the Luxembourg Green Exchange within the Sustainability Bond section. The Sustainability Bond proceeds have been fully used towards a 4-year, senior unsecured loan to AraratBank.

Link to: Sustainability Social and Green Bond framework for Symbiotics            

About Symbiotics

Symbiotics is the leading market access platform for impact investing, dedicated to financing micro- small and medium enterprises and low- and middle-income households in emerging and frontier markets. Since 2005, Symbiotics has structured and originated some 4,000 deals for over 450 companies in almost 90 emerging and frontier markets representing more than USD 5.5 billion. These investments have been purchased by more than 25 fund mandates and more than 50 third party specialized fund managers, forming a growing ecosystem and marketplace for such transactions.symbioticsgroup.com

About AraratBank

AraratBank open joint-stock company was founded in 1991, providing the latest and highest quality banking services to both individuals and legal entities, applying modern technologies to develop banking services and creating a special business culture in bank-client relations.

With the innovative banking technologies and best practices of corporate governance, the bank has 53 branches across the country. AraratBank actively participates in the real sector of the Armenian economy, particularly in SME lending. AraratBank cooperates with 17 reputable international financial institutions.

By reporting a stable growth of financial indicators year on year, AraratBank takes its unique position in the banking sector of the Republic of Armenia. Thus, as of the performance indicators in Quarter 1, 2021, total assets stood at USD 501.8 million. Loan portfolio stood at USD 281.2 million, with the share of corporate loans totaling 54․8% (USD 154.1 million) and the share of retail loans totaling 47.7% (USD 134.1 million) in the loan portfolio.

Total liabilities in the reporting period stood at USD 426.3 million. The share of borrowings from IFIs in total liabilities stood at around 30.0% or USD 127.8 million, the share of term deposits stood at 23.5% or USD 100.3 million, while the share of demand deposits stood at 22.4% or USD 95.3 million. In Quarter 1, 2021, the Bank succeeded in reporting growth of term deposits by USD 12.9 million (14.8%).

Total capital reported growth of USD 75.5 million as compared to the indicator of the previous year – USD 73.2 million. In Quarter 1, 2021, net profit stood at USD 3.4 million. In Quarter 1, AraratBank provided capital adequacy of 14.73% and total liquidity of 27.49%. araratbank.am

About Proparco

Proparco is the private sector financing arm of Agence Française de Développement Group (AFD Group). It has been promoting sustainable economic, social and environmental development for over 40 years. Proparco provides funding and support to both businesses and financial institutions in Africa, Asia, Latin America and the Middle-East. Its action focuses on the key development sectors: infrastructure, mainly for renewable energies, agribusiness, financial institutions, health and education.

Its operations aim to strengthen the contribution of private players to the achievement of the Sustainable Development Goals (SDGs) adopted by the international community in 2015. To this end, Proparco finances companies whose activity contributes to creating jobs and decent incomes, providing essential goods and services and combating climate change. For a World in Common. proparco.fr @Proparco


News
Growth of economic activity accelerates in ArmeniaGrowth of economic activity accelerates in Armenia
Armenia intends to expand cooperation with leadership of Iran`s  Social Security Investment CompanyArmenia intends to expand cooperation with leadership of Iran`s  Social Security Investment Company
Clarification of State Revenue Committee about new advantages of  obtaining  certificate of  law-abiding taxpayerClarification of State Revenue Committee about new advantages of  obtaining  certificate of  law-abiding taxpayer
1000 large taxpayers of Armenia paid about $ 1.2 billion to the state  budget in H1, 2021: Defense Ministry apparatus is the third on the  list 1000 large taxpayers of Armenia paid about $ 1.2 billion to the state  budget in H1, 2021: Defense Ministry apparatus is the third on the  list 
US State Department Investment Review: The financial sector in  Armenia is not highly developedUS State Department Investment Review: The financial sector in  Armenia is not highly developed
Government of Armenia discussed agricultural programs implemented  with support of stateGovernment of Armenia discussed agricultural programs implemented  with support of state
Updated RA Law Updated RA Law "On Combating Money Laundering and Financing of  Terrorism" will enter into force on July 26
Armenian Regulator excludes cartel agreement in liquefied gas marketArmenian Regulator excludes cartel agreement in liquefied gas market
Tax revenues of the Armenian state treasury as of July 20 amounted to  865.2 billion AMD with an annual indicator of 1 trillion 510 billion  AMDTax revenues of the Armenian state treasury as of July 20 amounted to  865.2 billion AMD with an annual indicator of 1 trillion 510 billion  AMD
Armenian Ambassador to the Czech Republic held talks with the  leadership of Armenian Ambassador to the Czech Republic held talks with the  leadership of "CzechInvest"
Agricultural land sales remain high in the regions of ArmeniaAgricultural land sales remain high in the regions of Armenia
Deputy Minister of Economy and Russia`s Ambassador discussed  development of the Armenian-Russian strategic, trade and investment  cooperation Deputy Minister of Economy and Russia`s Ambassador discussed  development of the Armenian-Russian strategic, trade and investment  cooperation 
Resident of FEZ Resident of FEZ "Alliance" LLC "Arides" intends to expand activities  in the field of electronics and precision engineering
The trend of monthly growth in apartment prices in Yerevan continuesThe trend of monthly growth in apartment prices in Yerevan continues
It was a joke: Armenian Minister of Economy on his call to It was a joke: Armenian Minister of Economy on his call to "detain"  labor migrants
Armenian government allocated about $ 17.8 million for overhaul of  roads with length of 50.7 kmArmenian government allocated about $ 17.8 million for overhaul of  roads with length of 50.7 km
Armenian authorities will fight against tax Armenian authorities will fight against tax "parasites"
Issues of implementation of a number of investment programs discussed  in the Armenian governmentIssues of implementation of a number of investment programs discussed  in the Armenian government
Best specialists of nuclear industry started annealing reactor vessel  metal of Armenian NPPBest specialists of nuclear industry started annealing reactor vessel  metal of Armenian NPP
Armenia will explore space with Russian partnersArmenia will explore space with Russian partners
Vahan Kerobyan: Armenia`s labor market has set a new recordVahan Kerobyan: Armenia`s labor market has set a new record
Papikyan announces investments in Gyumri in amount of about $ 8.5  millionPapikyan announces investments in Gyumri in amount of about $ 8.5  million
As part of 2025 strategy, EAEU will develop a concept for  implementation of principles of green economyAs part of 2025 strategy, EAEU will develop a concept for  implementation of principles of green economy
EEC supported  draft roadmap for formation of common market for  organic agricultural productsEEC supported  draft roadmap for formation of common market for  organic agricultural products
For 5 months of 2021, the mutual trade of the EAEU member states  increased by 33%For 5 months of 2021, the mutual trade of the EAEU member states  increased by 33%
SRC of Armenia reports on the next record in the number of jobsSRC of Armenia reports on the next record in the number of jobs
Electronic system of Electronic system of "single window" in the field of foreign trade  will be launched by the end of 2021
Deputy Minister of Economy of Armenia sent on an official trip to  Russia to discuss issues of bilateral trade and economic cooperationDeputy Minister of Economy of Armenia sent on an official trip to  Russia to discuss issues of bilateral trade and economic cooperation
Revazyan: After the formation of a national air carrier, Armenia will  appeal to Europe with a request, as an exception, to allow access to  the Revazyan: After the formation of a national air carrier, Armenia will  appeal to Europe with a request, as an exception, to allow access to  the "European sky"
Life on loan: In six months, Armenia`s public debt grew by $ 901  million - up to $ 8 billion 869 millionLife on loan: In six months, Armenia`s public debt grew by $ 901  million - up to $ 8 billion 869 million
Armenia considers possibility of canceling excise tax for winemakersArmenia considers possibility of canceling excise tax for winemakers
Armenian customs officers with Iranian colleagues discussed  modernization of Meghri checkpointArmenian customs officers with Iranian colleagues discussed  modernization of Meghri checkpoint
Government together with KfW, EIB and EU will allocate 81 million  euros to ensure water supply in several regions of ArmeniaGovernment together with KfW, EIB and EU will allocate 81 million  euros to ensure water supply in several regions of Armenia
Nikol Pashinyan visited Nikol Pashinyan visited "Saranist" glass production company and got  acquainted with activities of new brandy factory
The next vector of ANIF activities is to provide support to water and  waste management systemsThe next vector of ANIF activities is to provide support to water and  waste management systems
With formation of national air carrier and increase in passenger  traffic, issue of expanding Zvartnots airport may ariseWith formation of national air carrier and increase in passenger  traffic, issue of expanding Zvartnots airport may arise
Ameriabank receives Euromoney Euromoney Award for Excellence 2021 as  the Best Bank in ArmeniaAmeriabank receives Euromoney Euromoney Award for Excellence 2021 as  the Best Bank in Armenia
The largest aviation concern in Europe - Lufthansa enters the  Armenian marketThe largest aviation concern in Europe - Lufthansa enters the  Armenian market
National air carrier to be established in Armenia within the  framework of the agreement with Air ArabiaNational air carrier to be established in Armenia within the  framework of the agreement with Air Arabia
Vahan Kerobyan once again found it realistic to end 2021 with  economic growth of 10-11%Vahan Kerobyan once again found it realistic to end 2021 with  economic growth of 10-11%
EU to allocate 600 million euros for the construction of the southern  section of the North-South highwayEU to allocate 600 million euros for the construction of the southern  section of the North-South highway
IDBank`s Visa Digital card: another key to online and contactless paymentsIDBank`s Visa Digital card: another key to online and contactless payments
In H1 2021, Armenia`s international reserves increased by 18.7%  amounting to $ 3.1 billionIn H1 2021, Armenia`s international reserves increased by 18.7%  amounting to $ 3.1 billion
Armenian government convened an extraordinary meeting to discuss a  four-year program to reduce public debtArmenian government convened an extraordinary meeting to discuss a  four-year program to reduce public debt
Export of ferromolybdenum, copper and molybdenum concentrate to third  countries will be subject to a 15% state dutyExport of ferromolybdenum, copper and molybdenum concentrate to third  countries will be subject to a 15% state duty
RA  Ambassador informed about interest of Armenian businessmen  in expanding economic relations with IranRA  Ambassador informed about interest of Armenian businessmen  in expanding economic relations with Iran
CBA: Net inflow of transfers from individuals increased by 89% per  annum in Jan-May 2021 CBA: Net inflow of transfers from individuals increased by 89% per  annum in Jan-May 2021 
High growth of mortgage portfolio supports the loan activity of  banking systemHigh growth of mortgage portfolio supports the loan activity of  banking system
After a long time, passenger transportation in Armenia has grown in  conditions of coronacrisis After a long time, passenger transportation in Armenia has grown in  conditions of coronacrisis 
Revenue in communications sector of Armenia increased by 3.2% per  annum by June 2021Revenue in communications sector of Armenia increased by 3.2% per  annum by June 2021
Possibilities of expanding Armenian-French cooperation in field of  high technologies discussed in YerevanPossibilities of expanding Armenian-French cooperation in field of  high technologies discussed in Yerevan
Trade sector in Armenia is heading towards recovery to pre-COVID  growth ratesTrade sector in Armenia is heading towards recovery to pre-COVID  growth rates
Revenue of service sector in Armenia grew by only 0.9% in 5 monthsRevenue of service sector in Armenia grew by only 0.9% in 5 months
The client base of Armenian banks increased by 7.4% by May 2021The client base of Armenian banks increased by 7.4% by May 2021
Card to card transfer campaign for Converse Bank Visa cardholders in a new formatCard to card transfer campaign for Converse Bank Visa cardholders in a new format
Armenia doubled the export of agricultural productsArmenia doubled the export of agricultural products
Mher Grigoryan: EU is one of Armenia`s key partners in implementing  ambitious reformsMher Grigoryan: EU is one of Armenia`s key partners in implementing  ambitious reforms
Armenia and Greece in search of new directions of cooperation in the  field of technologyArmenia and Greece in search of new directions of cooperation in the  field of technology
IDBank joined the fulfillment of children`s dreamsIDBank joined the fulfillment of children`s dreams
EDB forecasts 4.2% economic growth in Armenia and indicates a very  gradual movement of the economy towards its potential level EDB forecasts 4.2% economic growth in Armenia and indicates a very  gradual movement of the economy towards its potential level 
Read more


Exchange rates
26.07.2021
RUB6.52-0.05
USD482.52-0.90
EUR569.280.39
GBP665.641.52
CAD384.51-0.16
JPY43.75-0.02
CNY74.51-0.26
CHF525.910.85