Ameriabank awarded a status of the most active issuer by EBRD

Ameriabank awarded a status of the most active issuer by EBRD

Saturday, May 18, 18:18

The European Bank for Reconstruction and Development (EBRD) has
awarded a status of the most active issuer in Armenia in 2012 to
Ameriabank. The press service of Ameriabank told ArmInfo that the
official award ceremony took place in Istanbul during the event
organized by the EBRD within the Trade Finance Program.

The source says that the award demonstrates the active and efficient
trade finance activity of Ameriabank. To increase trade finance, the
Bank keeps on effectively cooperating with international financial
structures and recognized foreign banks. As a result, the loan
facility approved for Ameriabank already exceeds 100 mln USD.

Ameriabank remains a leader in trade finance in Armenia, expanding the
borders of cooperation with importers and exporters with every passing
day. In 2012 the total amount of servicing of export and import
operations via payment instruments exceeded 150 mln USD (75% more than
a year before). In Q1 2013 Ameriabank’s portfolio of letters of credit
and bank guarantees totaled almost 50 mln USD (90% more than a year
before). The amount of letters of credit doubled and bank guarantees
were up 56% as compared with Q1 2012.

During the same event the European Bank for Reconstruction and
Development (EBRD) awarded Ameriabank the status of confirming bank as
part of the Trade Finance Project. The status is of big importance for
development of trade finance in the region. This will boost exports
and make export letter of credit, confirmation and bank guarantee
service more accessible for exports. The status of confirming bank is
an achievement, as Ameribank has been included in the list of EBRD
confirming banks. This fact once again confirms the high status of
Ameriabank as a reliable and recognized business partner in the
international arena. In late November 2012 Ameriabank introduced a new
service – acceptance of letters of credit (an advising bank). The
first contract unique for the Armenian banking
system had been signed later connecting a foreign bank with an
Armenian company. Introduction of this service will give more
opportunities to Armenian companies to find new export markets. The
new banking service enables Ameriabank to boost cooperation with big
foreign banks to attract more trade finance customers. For this
purpose, Ameriabank has already introduced a service of issue of
letters of credit.

Ameriabank CJSC is a universal bank providing investment, corporate
and retail banking services in a full package of bank services. The
majority shareholder of the bank is America Group (since Nov 2011)
with 99.99% shares.

From: Baghdasarian

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