Thursday, March 23 2017 13:54

ArmInfo. Global Finance has named Ameriabank as the Best Bank of Armenia in 2017. Ameriabank has annually received this award from Global Finance since 2012. Global Finance's press release sent to ArmInfo says that Ameriabank is declared as one of the best banks in Asia-Pacific. 

Global Finance magazine has announced its twenty-fourth annual awards for the World's Best Banks. The honorees for Asia-Pacific are presented here. A full report on the selections will appear in the May issue of Global Finance, with winners chosen in more than 150 countries across Africa, Asia-Pacific, Central & Eastern Europe, Latin America, The Middle East, North America and Western Europe. The May report will also feature selections for the Best US Regional Banks and the World's Best Banks By Region.  Overall global winners will be announced in the summer and published in the October issue.

The winners of this year's awards are those banks that attended carefully to their customers' needs in difficult markets and accomplished better results while laying the foundations for future success.

All selections were made by the editors of Global Finance after extensive consultations with corporate financial executives, bankers and banking consultants, and analysts throughout the world. In selecting these top banks, Global Finance considered factors that range from the quantitative objective to the informed subjective. In addition, a poll of Global Finance's corporate readership was conducted in order to increase the accuracy and reliability of the results. Banks were invited to submit entries supporting their selection. Objective criteria considered included: growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products. Subjective criteria included the opinions of equity analysts, credit rating analysts, banking consultants and others involved in the industry.

"Global Finance's annual Best Bank Awards celebrate financial institutions that excel at delivering customers the services and products tailored to meet their unique needs," said Joseph D.  Giarraputo, publisher and editorial director of Global Finance.  "These banks may not be the biggest or oldest, but their energy and adaptability make them stand out in the field."

The source says that the winners will be honored at an Awards Ceremony held during the IMF/World Bank Annual Meetings in Washington DC on the morning of October 14, 2017 at the National Press Club.

According to ArmInfo's Financial Rating of Armenian Banks, in 2016 Ameriabank's assets grew by 39.2% to AMD 718.3 bln or $1.5 bln, the loan book - by 61.4% and investments in government bonds - by 44.2%.  As a result, the Bank's lending rose to AMD 511.6 bln or $1.1 bln, and investments in government bonds - to AMD 47.5 bln or $98.1 mln.  In 2016, the total capital of the Bank increased by 8.6% to AMD 64.4 bln or $133.1 mln due to the fact that the accumulated profit rose by 23.4% to AMD 24.3 bln or $50.1 mln.  In 2016, the net profit of the bank amounted to AMD 6.2 bln or $12.8 mln (up 29.2% versus 2015). By 1 Jan 2017, the regulatory capital of Ameriabank amounted to AMD 81.9 bln, which is almost thrice as much as the CBA's minimum regulatory capital standard that came into effect on 1 Jan 2017 (AMD 30 bln).  The capital adequacy ratio made up 15.87% (versus the required min 12%), overall liquidity - 31.23% (versus the required min 15%), day-to-day liquidity - 133.17% (versus the required min 60%), versus respective 15.07%, 29.91% and 151.26% a year before.

To note, Ameriabank is a universal bank providing investment, corporate and retail banking services. The Bank has been operating on the Armenian market since October 31, 1996. The branch network of the Bank comprises 14 branches, 8 of them in Yerevan and 6 in the provinces. As of 1 Jan 2017, the shareholders are Ameria Group CY Ltd (65.8%), EBRD (20.7%) and ESPS Holding Limited (13.5%). The Bank has received awards from Euromoney (2016, 2014, 2012, 2011), Global Finance (2016, 2015, 2013, 2012), The Banker/FT (2016, 2015, 2013, 2010).

Global Finance, founded in 1987, has a circulation of 50,000 and readers in 192 countries. Its circulation is audited by BPA. Global Finance's audience includes chairmen, presidents, CEOs, CFOs, treasurers and other senior financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions. Global Finance also targets the 8,000 international portfolio investors responsible for more than 80% of all global assets under professional management. Its website - GFMag.com - offers analysis and articles that are the heritage of 30 years of experience in international financial markets, and provides a valuable source of data on 192 countries. Global Finance is headquartered in New York, with offices in London and Milan.