Ameriabank is going to increase portfolios of SME loans and big loans to $80 mln and $300 mln respectively by late 2013

 Ameriabank is going to increase the SME loan book to $80 mln, Gagik Sahakyan, Corporate Banking Director of Ameriabank CJSC, said at today's press conference.   

He pointed out that in 2013 Ameriabank focused on lending to small and medium-sized enterprises. Over Jan-Sept 2013 the Bank's SME lending totaled $64 mln. As a result, by 1 October 2013, the total SME lending experienced twofold y-o-y growth to $73.3 mln against $37.5 mln in 2012. 

Overdraft facilities inclusive, the number of SME loans provided by the Bank made up 260. The SME loan book mostly focuses on Yerevan, however, lending to SMEs has considerably intensified in the NKR. "As you know, the Stepanakert branch has moved to an upgraded and more convenient office", said Sahakyan. 

He said that Ameriabank holds itself out as a universal bank, but it still serves mostly corporate clients and is an absolute leader in the corporate lending segment. In the meantime, the Bank also maintains its leading positions in terms of big corporate loans and is going to increase that portfolio to 300 mln USD by late 2013. However, the growth rates in this segment have not changed much. Over Jan-Sept 2013 the Bank provided big loans worth $157.5 mln. 

The Financial Rating of the Banks of Armenia by the Agency of Rating Marketing Information (ArmInfo) says that as of 1 October 2013, Ameriabank's assets amounted to 296.6 bln AMD (23% y-o-y growth) and ensured the Bank's 1st position in the banking system. The total capital amounted to 39 bln AMD (8.7% y-o-y growth) and ensured the Bank's place among the top five leaders. The Bank's liabilities totaled 257.6 bln AMD (25.3% y-o-y growth, 1st position).  Provision of crediting totaled 162.6 bln AMD. By this index, the Bank is among the top five leaders.

Ameria Group has been the majority shareholder of Ameriabank CJSC since November 2011 (99.99%). The Bank has 9 branches: 5 in Yerevan, 1 in Kajaran, 1 in Dilijan, 1 in Vanadzor and 1 in the Nagorno-Karabakh Republic.