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AMERIABANK'S LENDING TO ARMENIA'S ALTERNATIVE ENERGY SECTOR TOTALS AMD 17 BILLION IN JAN-JUNE 2014
YEREVAN, September 17. /ARKA/. Ameriabank's lending to Armenia's
alternative energy sector totaled AMD 17 billion in the first half
of this year, Gagik Sahakyan, the Ameriabank director in charge of
relations with corporate clients, told journalists on Wednesday.
"We are ready to implement long-term programs in this area and embark
on risky projects, since this area depends on administrative risks
to a lesser degree; it is free from shadow dealings and prices here
are fixed - this allows long-term planning," he said.
Sahakyan said the bank shows interest in mining industry and a very
quick reaction to market changes.
"In particular, Russia's decision to ban imports of certain foods
from USA and EU has spurred demand for lending from Armenian companies
making agricultural products," he said.
In his words, there is a quite large portfolio in this area and an
interesting export potential, which monetizes quickly - in eight or
nine months.
Sahakyan said sanctions will be in force at least for several months,
and this allows the bank to put special emphasis on food and processing
industries and agricultural products.
Ameriabank is a universal bank that provides investment, corporate
and retail banking services in the form of a comprehensive package of
banking solutions. It is the first investment bank in Armenia that has
been providing a wide range of innovative banking services since 2007.
The bank's assets as of July 1, 2014 amounted to 342.7 billion drams
(an 8.8% growth from the beginning of the year), its liabilities stood
at 302.5 billion drams (up 9.48%) and capital - at 40.2 billion. drams
(up 3.9%). The bank earned 2.8 billion drams in profit in the first
half (the second largest among local commercial banks). ($ 1 - 408.84
drams). --0-
http://arka.am/en/news/business/ameriabank_s_investments_in_lending_to_armenia_s_a lternative_energy_sector_total_amd_17_billion_in_j/#sthash.hk482Jcf.dpuf
From: A. Papazian
YEREVAN, September 17. /ARKA/. Ameriabank's lending to Armenia's
alternative energy sector totaled AMD 17 billion in the first half
of this year, Gagik Sahakyan, the Ameriabank director in charge of
relations with corporate clients, told journalists on Wednesday.
"We are ready to implement long-term programs in this area and embark
on risky projects, since this area depends on administrative risks
to a lesser degree; it is free from shadow dealings and prices here
are fixed - this allows long-term planning," he said.
Sahakyan said the bank shows interest in mining industry and a very
quick reaction to market changes.
"In particular, Russia's decision to ban imports of certain foods
from USA and EU has spurred demand for lending from Armenian companies
making agricultural products," he said.
In his words, there is a quite large portfolio in this area and an
interesting export potential, which monetizes quickly - in eight or
nine months.
Sahakyan said sanctions will be in force at least for several months,
and this allows the bank to put special emphasis on food and processing
industries and agricultural products.
Ameriabank is a universal bank that provides investment, corporate
and retail banking services in the form of a comprehensive package of
banking solutions. It is the first investment bank in Armenia that has
been providing a wide range of innovative banking services since 2007.
The bank's assets as of July 1, 2014 amounted to 342.7 billion drams
(an 8.8% growth from the beginning of the year), its liabilities stood
at 302.5 billion drams (up 9.48%) and capital - at 40.2 billion. drams
(up 3.9%). The bank earned 2.8 billion drams in profit in the first
half (the second largest among local commercial banks). ($ 1 - 408.84
drams). --0-
http://arka.am/en/news/business/ameriabank_s_investments_in_lending_to_armenia_s_a lternative_energy_sector_total_amd_17_billion_in_j/#sthash.hk482Jcf.dpuf
From: A. Papazian