Deposits In Ameriabank Keep Growing


2009-02-11 16:18:00

ArmInfo. In December 2008 Ameriabank total time deposits grew by

Retail deposits increased by 14.6%. Considerable growth of 150.4% was
registered in corporate time deposits. Whereas total volume of deposits
in the banking industry of Armenia declined the increase of Ameriabank
deposit volumes can be attributed to the full insurance of deposits
initiatiated with the purpose of strengthening customer confidence
in Armenia’s banking system, Ameriabank press-service reported.

The beginning of the year 2009 was also highlighted with intensive
increase in retail time deposits: in January total time deposits grew
by 10.8%, and the growth of retail deposits was 46.4%. Year-to-year
comparison also shows considerable positive shift: the volume of
time deposits as of January 31, 2009 reached the 3.7-fold of that
of on January 31, 2008. The same indicator for retail deposits has
increased 4.3 times as compared to January 31, 2008 results.

It should be observed that as per annual financial reports published
by banks in 4th quarter 2008 retail time deposits decreased by
2.7%. According to CBA statistical publications on "Deposits
in Commercial Banks as per Sectors of Economy" in December time
deposits made by residents decreased by 5.4% while the growth of
those attracted from households was insignificant – only 0.1%, which
was due to foreign currency deposits.

The Analysis of the Armenian Banking System by ArmInfo says the
total time deposits of individuals with commercial banks were
down 2.7% to 171.2 billion drams for the 4th quarter. Total time
deposits (of individuals and legal entities) for the quarter were
insignificantly up 0.4% due to the 7-percent growth of deposits of
legal entities. Ameribank ensured the highest growth of time deposits
in the banking system for the 4th quarter and for the year 2008:
114.8% and 227.8% respectively. The growth totaled 11.4 billion drams
(almost 40% of liabilities). As a result, the bank joined top ten of
leaders by this indicator.

"Ameriabank" CJSC is an investment bank offering a comprehensive set of
corporate and limited range of retail bank services and products. The
Chairman of the Ameriabank Board of Directors is Mr. Ruben Vardanyan,
and the Chairman of the Management Board-General Director is Mr.

Artak Hanesyan. Ameriabank’s strategic partner is Troika Dialog Group –
one of the biggest investment-banking companies in Russia. During 2008
the bank replenished authorized capital trice via issue of shares for
a total of 16.2 billion drams in particular in issue of shares for
February led the bank to the top ten of leaders. Due to the August
issue of shares, Ameriabank made a sharp rise to leading position
and maintained its leadership due to October issue. The share of TDA
Holdings Limited in Ameriabank was up from the present 96.15% to 99.7%.