May 7, 2019 - 16:51 AMT
PanARMENIAN.Net - Ameriabank and Citibankhave signed a new trade finance deal, Ameriabank raising about $14 million loan from Citibank. Part of the loan has been extended under the existing credit limit opened by Citibank for Ameriabank, while the rest is secured by guarantee of the Asian Development Bank. Ameriabank has the status of issuing and confirming bank under the Asian Development Bank’s Trade Finance Program.
The new facility will secure better and more competitive terms for Ameriabank’s clients engaged in foreign trade.
Citibank and Ameriabank have been cooperating for several years during which the number and volume of deals have been continuously growing, which is the best proof of mutual trust and efficiency.
Ameriabank has an average $100 million pool of borrowed funds a year for trade finance purposes, and this deal is another successful one in the scope of trade finance.
The first investment bank in Armenia, Ameriabank has been providing a large package of innovative banking services since 2007. Now Ameriabank CJSC is a universal bank offering corporate, investment and retail banking services in a comprehensive package of banking solutions. Ameriabank is the leading bank in Armenia as measured by all key financial indicators (assets, liabilities, loans portfolio, net profit and equity) according to the 2018 year reportable data.