HERE AND BEYOND
While Profit of Armenian Banking System Drops, Ameriabank’s Profit in 2014 Grows by 18%
Media Room

Ameriabank is the leader of Armenian banking sector in 2014 by key indicators, said today the bank’s CFO Mr. Gevorg Tarumyan during press-conference. He also added that in 2014 Ameriabank’s profit had grown by 18% to reach 7.1 billion AMD, while the profit of the banking system in general had decreased by 41%.

“In 2014 Ameriabank’s assets grew by 27% to reach 400 billion AMD; banking system average was 16%. The bank’s obligations grew by 29% to reach 357.4 billion AMD, client deposits and accounts – by 23% to reach 209 billion AMD. Note that the liabilities of the overall banking system had barely demonstrated as much as 4.8% growth. The number of our individual clients grew by 23%, that of corporates by 13%”, said Tarumyan.

He added that time deposits of individuals in Ameriabank had grown by 27%, current accounts by 115%.

“This is a very good indicator for us, which shows that Ameriabank is a safe place where people seek to keep their savings”.

According to the CFO, the bank’s loan portfolio in 2014 grew by 63% to reach 286 billion AMD by the end of the year. 

“It is important that the growth was significant in SME lending – about 73%, that being our target segment. The growth in mortgage lending and credit cards was 67% and 56% respectively”, said Tarumyan. 

As for the awards and honors received in 2014, Tarumyan especially pointed out the three awards from Global Finance: “Bank of the Year in Armenia 2014”, “Best Trade Finance Bank 2014” and “Best Foreign Exchange Provider 2014”, as well as the Euromoney Award for Excellence as the Best Bank in Armenia. 

Updated 03.03.2015, 11:49
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