HERE AND BEYOND
Ameriabank and Cascade Bank Shareholders Signed a Merger Agreement
Media Room
TDA Holdings and Cascade Capital Holdings, shareholders of Ameriabank and Cascade Bank, have reached agreement to merge the two banks. This merger is aimed at empowering the Armenian financial sector and building an even more powerful and sustainable financial platform for the post-crisis economic development of the country. This mission complements Mr. Gerard Cafesjian’s and Mr. Ruben Vardanian’s activities in Armenia promoting the well being of Armenians.
 
This merger is a ground-breaking deal in the history of the Armenian financial market. It is the 1st market based bank merger that is aimed at consolidation and empowerment of the RA financial sector. It will create one of the strongest financial institutions in Armenia with consolidated capital of USD 75,000 K , assets of USD 397,000K, liabilities of USD 262,000 K, loan portfolio of USD 179,000 K as of 31st December, 2009; assuring us of a top three position in the domestic market. The Bank will be further enhanced by the joint team of professionals that will contribute to the further growth and leadership of the united Bank in the Armenian financial sector.
 
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Ameriabank CJSC is one of the most dynamic banks in Armenia and ranked among the country’s most stable financial institutions. It is one of the first investment banks in Armenia, and since 2007 has been providing an extensive list of innovative banking products and services specifically tailored to meet its customers’ needs. The main shareholder of the Bank is TDA Holdings Limited, an investment company affiliated with the leading and largest Russian investment group company – Troika Dialog.  For more information, visit www2.ameriabank.am.
 
 
Cascade Bank’s sole shareholder is Cascade Capital Holdings, which was established in 2004 by the Cafesjian Family Foundation (CFF) to facilitate and support investments into Armenia and the Caucasus, by creating and managing a group of commercial financial services companies operating to western standards. Cafesjian’s involvement in Armenia’s financial sector is part of some $100 million invested to date in media, film, finance, real estate and alternative energy.  In a cycle of investment, development, sale and reinvestment known as entrepreneurial philanthropy, Cafesjian will continue to recycle 100% of profits in new commercial demonstration projects or to help sustain CFF’s philanthropic activities in Armenia.
Updated 31.03.2010, 16:59
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