AMERIABANK INTENDS TO INVEST IN FOREIGN ISSUERS’ SECURITIES
ARKA
Feb 1, 2010
YEREVAN, February 1. /ARKA/. Ameriabank intends to make investments
in non-government securities of American and Russian issuers, Artak
Hanesyan, director general of Ameriabank CJSC, said Tuesday at a
press conference.
"We plan to enter the world market and invest in indices and corporate
securities of foreign issuers on American and Russian markets," he
said. "Investments will be small, and 5% of the investment program
will target these goals."
Ameriabank has repeatedly come up with an initiative of issuing
currency bonds for non-resident investors, and the matter has been
discussed with the Central Bank of Armenia.
Hanesyan said that technical aspects of the proposal are under
discussion now.
"I think we’ll manage to implement such a program in coming one or
two years, and it will become permitted in Armenia to issue corporate
currency bonds."
The Ameriabank CJSC (former Armimpexbank) was founded in July 1992
using the facilities of the Armenian branch of the USSR Vnesheconombank
(Foreign Economy Bank). On September 8, 1992, the bank received a
banking license from the Central Bank of Armenia.
In August 2007, TDA Holdings limited, affiliated with Troika Dialogue,
Russia’s leading investment company, purchased the bank’s shares.
According to ARKA News Agency’s data, Ameriabank’s assets totaled AMD
103.5 billion and liabilities AMD 81.8 billion by late December 2009.
The bank’s total capital amounted to AMD 21.7 billion (the best result
in Armenian banking system) and authorized capital AMD 180.2 billion
(the best result in Armenian banking system) in 2009.
The bank’s 2009 credit portfolio amounted to AMD 54.1 billion,
liabilities to clients AMD 69.1 billion and net profit AMD 1.5
billion. ($1 = AMD 377.83). M.V.-0—
YEREVAN, February 1. /ARKA/. Ameriabank intends to make investments
in non-government securities of American and Russian issuers, Artak
Hanesyan, director general of Ameriabank CJSC, said Tuesday at a
press conference.
"We plan to enter the world market and invest in indices and corporate
securities of foreign issuers on American and Russian markets," he
said. "Investments will be small, and 5% of the investment program
will target these goals."
Ameriabank has repeatedly come up with an initiative of issuing
currency bonds for non-resident investors, and the matter has been
discussed with the Central Bank of Armenia.
Hanesyan said that technical aspects of the proposal are under
discussion now.
"I think we’ll manage to implement such a program in coming one or
two years, and it will become permitted in Armenia to issue corporate
currency bonds."
The Ameriabank CJSC (former Armimpexbank) was founded in July 1992
using the facilities of the Armenian branch of the USSR Vnesheconombank
(Foreign Economy Bank). On September 8, 1992, the bank received a
banking license from the Central Bank of Armenia.
In August 2007, TDA Holdings limited, affiliated with Troika Dialogue,
Russia’s leading investment company, purchased the bank’s shares.
According to ARKA News Agency’s data, Ameriabank’s assets totaled AMD
103.5 billion and liabilities AMD 81.8 billion by late December 2009.
The bank’s total capital amounted to AMD 21.7 billion (the best result
in Armenian banking system) and authorized capital AMD 180.2 billion
(the best result in Armenian banking system) in 2009.
The bank’s 2009 credit portfolio amounted to AMD 54.1 billion,
liabilities to clients AMD 69.1 billion and net profit AMD 1.5
billion. ($1 = AMD 377.83).
From: Emil Lazarian | Ararat NewsPress
Disclaimer: This article was contributed and translated into English by Emil Lazarian. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.
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