YEREVAN, March 1, /ARKA/. The volume of Ameriabank’s structured deposits has grown to $1 million, Ruben Gevorkian, head of the bank’s unit investment fund, told ARKA in an interview.
He said the structured deposits were launched in April 2010 ‘as an absolute innovation on the financial market of Armenia enabling the investors to capitalize on the international commodities markets as well as on Dow Jones index ensuring capital protection.’ As a structured product, the gold-linked structured deposits earn returns at a fixed rate as well similar to traditional bank deposits. He said this type of deposits had won the bank many new clients.
In his words, Ameriabank is the pioneer in Armenia in terms of introducing structured products, which he said are very popular in other countries and which are in a bigger demand after the crisis.
‘These products contain less risks to banks, clients and investment companies,’ he said. The minium amount of a structured deposit is $40,000.
Ameriabank is owned by TDA Holding, an affiliation of a large Russian investment company Troika Dialog. -0-
