Yerevan /Mediamax/. “Ameriabank” continues preserving high development speeds, being thus the fastest growing bank in the South Caucasus, Director of the Bank’s Development Department Tigran Jrbashyan stated in Yerevan today.

Mediamax reports that Tigran Jrbashyan informed that the bank’s assets as of July 1 made 86.2bln AMD, having increased as compared to the beginning of the year by 175.8%, and as compared to the analogous period of 2008 – 2.8 times.

According to Tigran Jrbashyan, as to the volume of assets, “Ameriabank” occupies the 5th place in the banking system of Armenia with the market share of 7.53%, as to the volume of authorized capital stock the bank occupies the first place, and as to aggregate capital – the fourth place with the specific weight of 8.1%.

The deposits of individuals in “Ameriabank” increased in the second quarter by 37%, and as compared to the beginning of the year – 3.3 times, making 6.3bln AMD. As to the level of income, the bank occupies the 3rd place in the banking system of Armenia. “The bank’s income from the beginning of the year made 554.9mln AMD, having increased as compared to the analogous index of 2008, 5.4 times”, Tigran Jrbashyan stated.  

He stated certain reduction of the credit portfolio over the second quarter down to 31.6bln AMD, “the fact being conditioned not so much by inactivity of the bank, which in the course of the quarter provided over 80 business loans at the total sum of 4.7bln AMD, as by the fact that over the second quarter, our customers realized quite active repayment”. At that, from the beginning of the year, credit portfolio of the bank increased for 0.45bln AMD.

“At present, the bank’s credit portfolio exceeds 36bln AMD, and by the end of the month it will reach 39-40bln AMD”, Tigran Jrbashyan stated, adding that the quality of “Ameriabank” credit portfolio is the best in the region: the specific weight of idle credits makes 0.7%.

Reduction of interest rates to continue in Armenian banking system

Reduction of interest rates will continue in the banking system of Armenia, Director of Development Department of “Ameriabank” Tigran Jrbashyan stated in Yerevan today.

Mediamax reports Tigran Jrbashyan as stating that reduction will be conditioned particularly by reduction of the refinancing rate, at that ruling out the possibility that the refinancing rate may reach the zero level.

At that he noted that the current restraint of economic entities is conditioned not by high interest rates of banks, but their inability to absorb the resources the banking system has, noting in the given context the importance of crisis prevention measures by the government to stimulate economic activity.