Yerevan /Mediamax/. At present, “Ameriabank” has orders from three customers on bond underwriting, however, taking into account the fact of non-compliance between interests of investors and issuers, the bank recommends delaying the issues for the second half of 2010.

Mediamax reports that General Director of “Ameriabank” Artak Anesyan said this today. According to him, the problem is that investors’ expectations from profitability of securities exceed the offers of potential issuers.

Artak Anesyan stated that the bank continues discussions with the Central Bank (CB) of Armenia concerning CB’s permission to issue bonds in foreign currency for non-resident investors.

Answering the question on investment activity of the bank in the capital market, Artak Anesyan stated that “Ameriabank” mainly invests in governmental bonds, and this year it intends to enter the international market of securities and invest indices and corporate securities of foreign issuers in U.S. and Russian stock markets.

“Concerning the local market of corporate securities, “Ameriabank” has a small volume of investments in bonds of “IMEX Group”, the underwriting of which we have realized”, Artak Anesyan stated.

According to him, at present products, such as attracting means from external sources (corporate financing), deals with mergers and acquisitions and deals with direct investments, are also demanded among big customers of the bank. “The demand for asset management is starting to stir up, this is why we are going to implement the service of structural deposits, when the yield of the deposit is linked to changes of prices for oil, gold and Dow Jones index”, Artak Anesyan stated. Speaking about implementation of pension asset management system by the bank, he stated that now the bank implements a pilot project with a company, affiliated with the bank, investing pension assets to governmental bonds and securities.