Euromoney has named Ameriabank the Best Bank of Armenia in its Awards for Excellence 2022, which were announced at a ceremony in London.

The prestigious Awards, run since 1992 by a leading European finance magazine, evaluates levels of financial performances, the service quality, product innovation, digitalization and other achievements across the banking industry.

The magazine highlights Ameriabank’s progress towards its universal banking strategy, with growth of Retail and SME lending accompanied by 22% share of the Armenian corporate bond market. They describe Ameriabank’s financial metrics as impressive, citing among other indicators, its high return on equity, more than doubled net profit and solid capital adequacy.

“Alongside these numbers are admirable progress on sustainability and digital innovation. The bank’s sustainability strategy aligns with UN SDGs, with a particular emphasis on clean energy, sustainable cities and climate action. Its issuance of two green bond tranches, in dollars and local currency, in April 2022 was just another example of green and renewable financings stretching back to 2009,” the publication stressed.

Artak Hanesyan, CEO of Ameriabank, commented: “Receiving the Awards for Excellence is a true honour and achievement for us, and a testimony to our enormous resilience to adapt to challenging market conditions. Despite turbulent financial environment, we were able to not only ensure smooth delivery but also introduce an array of innovative products and services that has further improved our customer experience. I would mention our ground-breaking digital initiatives, in particular the launch of digital ecosystems, covering virtually all our services to respond to the growing needs of our clients and customers. I am delighted that this direction of our work, along with other areas, has been duly acknowledged by one of the world’s most influential financial periodicals. We are determined to build on this and other achievements to expand our business further.”

Ameriabank receives Euromoney Awards for Excellence for the 9th time since 2011.

Euromoney’s Awards for Excellence were established in 1992 and were the first of their kind in the global banking industry. They remain the worldwide gold standard in this regard and are determined by an editorial panel of judges following a three-month research and interview process. This year, the magazine received a record number of pitches from banks across the globe for its country, regional and global awards categories.