Ameriabank wins EBRD’s 2013 Deal of the Year Award
31-05-2014 16:12:05 | Armenia | Press release
Ameriabank has been awarded the 2013 Deal of the Year award by the European Bank of Reconstruction and Development (EBRD).
The award was presented to Mr. Gagik Sahakyan, Ameriabank’s Corporate Banking Director during the EBRD’s 2014 Annual Meeting in Warsaw, Poland on Friday, 16 May 2014as part of the Trade Facilitation Programme’s Annual Event and Awards Ceremony.
The 2013 Deal of the Year is a transaction arranged between Ameriabank and Commerzbank and guaranteed by the EBRD. The Netherlands Development Finance Company (FMO) was also involved in the deal by sharing part of the political and payment risks. The transaction had a significant strategic goal at developing telecommunication sector of Armenia.
Mr. Gagik Sahakyan mentioned: “Ameriabank highly values the long-term cooperation with EBRD. During the years in partnership we implemented a number of major projects for the development of Armenian economy. This deal is among them and is very important for the development of telecommunication industry in Armenia. This project was implemented due to valuable input from several major IFIs. It is important that the deal was concluded on quite favorable terms. It is aimed at bringing telecommunication sector in Armenia to a new level and will create new jobs both in Yerevan and at regions”.
In 2013 Ameriabank was awarded by EBRD as the most active issuing cank in Armenia, as well as became the first confirming bank in the country.
Due to trust and good standing with international partners, Ameriabank effectively continues its active cooperation with outstanding global institutions and several major international commercial banks. As a result, the bank’s approved credit limit comprises over 110 million USD.
The 2013 Deal of the Year Award from the EBRD comes to complement the bank’s extensive pool of awards from prominent international financial institutions and banks. It is a solid proof of Ameriabank’s active and efficient trade finance operations.
The bank continues its cooperation with importers and exporters as part of its trade finance activities. This is evidenced by Q1 2014 performance, particularly, the volume of issued letters of credit grew by 43% year-on-year, while their number grew by 40%. Issued guarantees also reported significant growth of 148% in the volume of portfolio and 90% in the number of issued guarantees, year-on-year.
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