Nalbandian: Racism and racial discrimination, xenophobia and intolerance grossly violate human dignity and give rise to tensions within and between societies. That is why the fight against them became one of the main priorities of our chairmanship.
by Gayane Isahakyan
In 2014 Ameriabank intends to increase its net profit by 18% (against the 2% rise in 2013), Artak Hanesyan, Chairman of the Management Board-Director General of Ameriabank CJSC, said at a press conference on Friday, when replying to ArmInfo's question.
He said that the net profit will mostly increase due to 22% expected growth in lending (including 31% rise in SME lending and 30% rise in retail lending), as well as growth in the portfolio of government bonds, including Eurobonds. To recall, in Q4 2013, Ameriabank was the first in Armenia to provide its customers with an exclusive opportunity to purchase Armenian Eurobonds circulating in the international capital market.
Meanwhile, the Bank's time deposits are expected to grow by 8% due to the loans from international organizations.
Hanesyan pointed out that in 2014 Ameriabank is planning to increase its assets by 10% (against 29% actual growth in 2013). "The difference between the growth registered in 2013 and the growth outlined for 2014 is explained by the fact that in 2014 the Bank intends to focus on raising the efficiency of assets. This implies choosing more efficient directions to use them", said Hanesyan. He added that the Bank is also going to improve ROE and ROA.
"In 2016 the Bank is going to enter the international IPO market if the situation in the global and national economy is stable", he added.
According to the latest data, at the yearend 2013, Ameriabank's net profit amounted to 6.2 bln AMD (3rd position, 2% y-o-y growth). This makes up 13% of the aggregate net profit of the banking system. Ameriabank was the second in terms of lending. In 2013, Ameriabank's loan book increased by 20.5% to 176 bln AMD. Ameriabank took the lead in total liabilities, having increased them by 32.6% to 276.2 bln AMD. The Bank's portfolio of government bonds amounted to 3.9 bln AMD by late 2013. As of 1 January 2014, the total capital of Ameriabank amounted to 38.8 bln AMD (5.5% y-o-y rise), while the authorized capital remained unchanged (25.4 bln AMD). The Bank holds the 4th position by its total capital and the 2nd position by its authorized capital. In 2013 the Bank increased the revaluation reserve almost 10-fold to 417.5 mln AMD and the accumulated profit - by 14.7% to 12.9 bln AMD (5th position in the market).
Ameriabank CJSC is a universal bank offering corporate, investment and retail banking services in a comprehensive package of banking solutions. Ameria Group CY Ltd. has been the majority shareholder of the Bank (with a 99.99% stake) since November 2011.