Ameriabank posts AMD 5 billion net asset growth in Jan-Sep 2014

PanARMENIAN.Net - Ameriabank’s position in Armenian banking system stays strong, with the bank's active assets growing 6% to total AMD 334 billion, deputy director general Gevorg Tarumyan said, summarizing the results for January-September 2014.

According to Tarumyan, in t he reporting period, the bank's liabilities grew by 6,1%, to total AMD 293.17 billion, while the banking sector posted a 0.5% decline.

“The bank’s liabilities to clients increased by 21.4% to total AMD 206.3 billion, despite a drop of 0.6% in the banking sector, with the bank staying atop of the system,” Tarumyan said.

The individual time deposits grew by 12,2% over the first 9 months of 2014; the increase against the same period of 2013 comprised 22% to total approximately AMD 76 billion as of September 30.

The bank’s net profit amounted to AMD 5.1 billion, with its market share standing at 18%. The bank’s additional capital grew by $20 million thanks to a contract on convertible subordinated loan inked with the Netherlands Development finance Company (FMO).

Ameriabank’s loan portfolio showed an 19% upsurge (6.4% growth in Armenia’s baking sector) to total AMD 209.6 billion as of late September. Loans to SMEs increased by 35,7%, with the AME loan portfolio amounting to AMD 45 billion. Over the reporting period, vehicle loans grew by 13,3% while consumer loan portfolio virtually doubled.

According to Tarumyan, in 2014, Ameriabank was leading the banking sector for assets, liabilities and corporate loans; the bank took second spot for loan investments as well as net and total income.

Also, new banking tools and services including Ameria Persona package of smart services launched in October, AmeriaToken single use password generating app and MetaTrader4 trading platfom contributed to 16% increase in the bank’s client base.