Armenia-based Ameriabank reports 30%-40% increase in key indicators

This January-September, Ameriabank's profits showed a 60% increase, up to AMD 5.9bn, as compared with the same period last year.At a press conference on Tuesday, Gevorg Tumanyan, Ameriabank Financial Director, said that profits showed an 86% increase in July-September, 2012.This January-September, the bank's net profits totaled AMD 4.7bn – an annual increase of 60%. The bank's net profit showed an 87% increase this July-September. Last year the bank reported the fourth largest net profits, whereas it ranks second in Armenia's banking system this year. The bank reports increase in assets, liabilities and credit investments.Tumanyan also pointed out an increase in the number of clients – legal entities (10%) and individuals (20%). This is the result of client confidence, he said.Tigran Jrbashyan, Ameriabank Development Director, said that the bank has ensured an average increase of 30 to 40 percent in key indicators by implementing a business program and sett ing such priorities as small and medium business and retail.   Read more... (163 words)

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