HERE AND BEYOND
Ameriabank stirs up in the factoring market
Media Room
Yerevan, 13.11.08. ArmInfo. Demand for leasing grows dynamically in Armenia told Gayane Barkhanajyan, Leasing Unit Head of AMERIABANK, in her interview to the correspondent of ArmInfo. Taking into consideration the growing demand for this particular type of financial services in Armenia, in 2009, AMERIABANK plans to expands the range of offered leasing products, by increasing the leasing portfolio of the bank for several times.
 
According to Gayane Barkhanajyan, as of today the aggregate leasing portfolio of Armenia is around AMD 5 bln.  “Leasing is a comparatively new product in the Armenian financial sector. Considering that banks and other financial organizations show interest in leasing products, it may be assumed that in 2009, the number of banks financing leasing operations will grow, which undoubtedly is beneficiary for Armenian entrepreneurs,” - emphasized G. Barkhanajyan.
 
At the same time, G. Barkhanajyan informed that being engaged in provision of financial leasing since June of the current year AMERIABANK has concluded leasing contracts with the total amount of nearly AMD 300 mln. Presently, the bank also reviews leasing applications at the total amount of AMD 150 mln. According to her, the bank offers financial leasing services to representatives of various industry sectors and branches (including production, agriculture, energy, health, transport, trade, communications, and publishing services) on the mandatory condition of insuring the object of leasing. At that, both legal entities and entrepreneurs, with minimum 6-month work experience, may act as lessees. Currently, the purchase of commodities through leasing enjoys high demand among representatives of construction and medical sectors.
 
G. Barkhanajyan informed that AMERIABANK offers financial leasing services on rather advantages and compatible terms and conditions. In particular, the maximum period of leasing is 5 years, with advance payment equal to 20% of the cost of leased object, and at 16% annual interest rate. It is worth noting that by the end of the leasing period, the commodity becomes the property of the lessee without any additional payments.
 
The Leasing Unit Head informs that AMERIABANK collaborates with local companies, and regional representations of foreign companies, and in the absence of the latter, the bank organizes the supply directly from the foreign manufacturer.
 
We would like the mention that as of today there are three specialized universal leasing companies functioning in Armenia, with the aggregate portfolio of AMD 4.3 bln. ($14.2 mln) as of October 1, 2008: this indicator is by nearly 60% higher than the same indicator for the respective period of the previous year.
 
We would like to remind that in August 2007, the “TDA Holdings Limited”, an investment company affiliated with Russian leading investment group “Troika Dialogue” obtained the major shareholding of AMERIABANK (former “Armimpexbank”). The priority goal of the bank is to contribute to the development of investment banking in Armenia; the bank offers the full range of traditional banking services. In November 12, 2008, through third issuance of shares AMERIABANK increased its charter capital by AMD 1.2 bln, ($4 mln) totaling to AMD 18.2 bln ($61 mln), and ensuring leading position in the Armenian banking system.
Updated 25.07.2009, 11:22
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