HERE AND BEYOND
Deal with Ameriabank is a landmark transaction for EBRD. Nick Tesseyman
Media Room

European Bank for Reconstruction and Development (EBRD) has invested US$ 40 million in the acquisition of an equity stake in Ameriabank CJSC.

“This is a landmark transaction for EBRD. We’ve been working with Ameriabank for many years and each time it has been very impressing. This deal, however, is the biggest challenge, this is what we usually call a transition deal. This is an investment which, if it works as planned, will transform the whole banking sector”, said Mr. Nick Tesseyman, EBRD Managing Director, Financial Institutions, after the signing ceremony. He said the EBRD fully trusted the bank’s management, its shareholders and investors: “I am sure we’ll achieve success just after 5 years of work”.

Today Ameriabank also signed an agreement with the IFC, a member of the World Bank Group, which has provided a $50 million subordinated loan to Ameriabank, the largest bank in Armenia, to support its capital and boost its capacity to lend to local enterprises, expanding access to finance and helping drive economic growth and job creation.

After the signing ceremony Mr. Tomasz Telma, IFC Director for Europe and Central Asia, said: “We are delighted to have such an opportunity to work with the bank. We’ve been cooperating with Ameriabank for 6 years already. By providing capital support to one of our key partner banks in Armenia, we endorse its growth strategy and future plans. This cooperation is part of our efforts to increase the stability of Armenia’s banking sector, which is critical for broader economic development”.

Source: http://www.panorama.am/

Updated 02.02.2016, 11:25
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