Today European Bank for Reconstruction and Development (EBRD) signed an agreement with Ameriabank to purchase a share in its equity.
The agreement was signed by Mr. Nick Tesseyman, EBRD Managing Director, Financial Institutions, on behalf of EBRD and by Mr. Andrew Mkrtchyan, Ameriabank CJSC Chairman of the Board of Directors, on behalf of Ameriabank. 

According to the agreement the EBRD is investing US$ 40 million in the acquisition of an equity stake in Ameriabank CJSC. This is the largest single-ticket equity deal the EBRD has signed in the region to date. According to Mr. Andrew Mkrtchyan, Chairman of the Board of Directors at Ameriabank, the deal has matured during the past years along with the bank’s dynamic growth.
As a first step the EBRD will acquire a stake of around 20 per cent for US$ 30 million. The remaining US$ 10 million will be used for future capital increases. The goal of the investment is to strengthen Ameriabank and prepare the bank for a future IPO. In the course of 2016 an independent director representing the EBRD will join Ameriabank’s Board of Directors.

Prior to a possible listing, the EBRD investment will support the growth of Ameriabank by providing additional funds for lending to large corporate and private customers, small and medium-sized enterprises and retail customers.
According to Mr. Andrew Mkrtchyan, Chairman of the Board of Directors at Ameriabank, currently Ameriabank is an ultimate leader in the Armenian banking sector by nearly all key indicators. The bank is the top taxpayer among Armenian financial institutions.

“Our assets have topped US$ 1 billion, a record achievement in the history of independent Armenia’s banking sector. Today the bank is the largest creditor of Armenian economy by lending to over 30 industries. During the past years the bank has provided about USD 2 billion equivalent in loans and helped create thousands of jobs via loan facilities”, commented Mr. Mkrtchyan.
According to him, the bank has always been a leader in implementing innovative technologies and advanced in creating a unique corporate culture and corporate governance system aligning with the best practices.

“During these years we have succeeded in raising the equivalent of more than half a billion USD from international financial institutions. Among all the partners, the EBRD and IFC have a key role”, he highlighted.
As regards whether Ameriabank is going to revisit its strategy due to the deal, Mr. Mkrtchyan said that the bank’s strategy wouldn’t change. 

Source :  http://www.lragir.am