{"id":16728,"date":"2010-11-05T08:38:29","date_gmt":"2010-11-05T08:38:29","guid":{"rendered":"https:\/\/armbanks.am\/2010\/11\/05\/231776\/"},"modified":"2024-12-15T12:48:49","modified_gmt":"2024-12-15T12:48:49","slug":"ameriabank-offers-custom-financing-and-classic-factoring-services","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2010\/11\/05\/16728\/","title":{"rendered":"Ameriabank offers custom financing and classic factoring services"},"content":{"rendered":"

YEREVAN, November 5. \/ARKA\/.<\/strong> Ameriabank will start providing new banking services \u2013 custom financing and classic factoring.<\/p>\n

Levon Arevshatyan, the bank\u2019s director in charge of corporate clients, said that Ameriabank is the first bank in Armenia to provide these innovation services.<\/p>\n

He said that as a rule banks demand certain collaterals from entrepreneurs for extending loans to them.<\/p>\n

\u201cHowever, there are some financing instruments and schemes, which need no collateral,\u201d he said. \u201cThese new services are among them.\u201d<\/p>\n

Arevshatyan said that the Ameriabank-offered custom financing is intended for those clients having contracts on delivery of goods or provision of services and having made prepayment, but who can\u2019t afford to complete the custom.<\/p>\n

He said that in such cases the bank is ready to finance up to 75% of the cost of a contract.<\/p>\n

The main requirement to the supplier organization is a good credit and business records.<\/p>\n

The director said that such loans will be extended in drams, dollars and euro. The maximal size of a loan is $200,000. The money will be lent at a 16% annual interest rate.<\/p>\n

Speaking about the classic factoring, Arevshatyan said that this service is intended for suppliers of goods and services who have performed delivery contracts, on which payment is carried out later.<\/p>\n

In such cases, Ameriabank is ready to reacquire contracts from suppliers. After repurchasing these contracts, the bank becomes the heir on delivery contracts.<\/p>\n

The director said that only those suppliers having contracts with 11 Armenian well-known and backbone companies are eligible to enjoy the classic factoring service.<\/p>\n

Armenia-International Airports, ArmenTel (Beeline brand), Yerevan Brandy Factory, Jerevan Jur water-supplying company, Zangezur Copper and Molybdenum Combine, Armenian Electric Networks, ArmRosgasprom, Armenian Nuclear Power Plant, South Caucasus Railways, K-Telecom and RUSAL-ARMENAL are among these companies.<\/p>\n

Arevshatyan said that Ameriabank has earmarked $2 to $3 million for providing these two services.<\/p>\n

Suren Kocharyan, head of Ameriabank\u2019s trade financing division, said that these services would spur development of small- and mid-scale businesses in Armenia.<\/p>\n

He said the custom-financing service would be provided at a 16% annual interest rate. The maximal term of such loans is 180 days.<\/p>\n

Classic factoring will be provided for 120 days at a 14% interest. Such loans will be extended only in Armenian national currency.<\/p>\n

The Ameriabank CJSC (former Armimpexbank) was founded in July 1992 using the facilities of the Armenian branch of the USSR Vnesheconombank (Foreign Economy Bank).<\/p>\n

On September 8, 1992, the bank received a banking license from the Central Bank of Armenia.<\/p>\n

In August 2007, TDA Holdings limited, affiliated with Troika Dialogue, Russia\u2019s leading investment company, purchased the bank\u2019s shares.<\/p>\n

On November 3, 2008, Armenian Stock Exchange gave Ameriabank the status of market maker of IMEX Group\u2019s bonds.<\/p>\n

According to ARKA News Agency\u2019s data, Ameriabank\u2019s assets totaled AMD 152.5 billion and liabilities AMD 121.3 billion by late September.<\/p>\n

The bank\u2019s total capital amounted to AMD 31.2 billion and authorized capital AMD 25.5 billion (ranked first among Armenian banks).<\/p>\n

Its credit portfolio amounted to AMD 90.3 billion by September 30, liabilities to clients totaled AMD 75.2 billion and net profit for Jan-Sept AMD 2077.7 million.<\/p>\n

The bank has nine branches in Armenia.($1 = AMD 358.48). \u00a0\u20130\u2014<\/p>\n","protected":false},"excerpt":{"rendered":"

Ameriabank will start providing new banking services \u2013 custom financing and classic factoring.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[9214,9216],"tags":[15615,15837,12749,12747,362],"class_list":["post-16728","post","type-post","status-publish","format-standard","category-banks-en-en","category-news","tag-ameriabank-2","tag-armenia-2","tag-factoring","tag-services","tag-362"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t