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Ameriabank Financial Director Predicts 18-22 Percent Growth For Sect

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  • Ameriabank Financial Director Predicts 18-22 Percent Growth For Sect

    AMERIABANK FINANCIAL DIRECTOR PREDICTS 18-22 PERCENT GROWTH FOR SECTOR THIS YEAR

    YEREVAN, January 30. / ARKA /. Ameriabank financial director, Gevorg
    Tarumyan, predicted an 18-22 percent growth for Armenia's banking
    system this year. Speaking at a news conference he said the decline
    in 2009-2010 in the banking system was replaced by growth in 2011-2012.

    According to him, the sector reported a 20% growth last year and this
    pace will continue this year as well. He said the banks' lending in
    2012 also increased by about 20%.

    "It is important that lending increased not only to the corporate
    businesses, but also to individual borrows. This is a positive
    development, indicating that people have jobs and they are solvent,"
    he said.

    According to ARKA news agency's data, compiled on the basis of the
    banks' financial reports, their total assets last year grew to 2.

    412.2 trillion drams, liabilities to 2 trillion drams, the outstanding
    loan portfolio to - 1.5 trillion drams. Their retained profits amounted
    to approximately 42.5 billion drams and their total capital rose to
    409.5 billion drams.

    Ameriabank is a universal bank providing investment, corporate and
    retail banking services. ($ 1 - 407.75 drams). -0-

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