HERE AND BEYOND
Ameriabank Is a Leader on the Factoring Market of Armenia
Media Room

International Corporate Intl Magazine 2014 Global Awards named Ameriabank the Best Bank in Armenia by factoring transactions based on FY 2013 results. As of the end of the reporting year, Ameriabank factoring transactions had a market share of 47.3% getting the bank to the top position in the Armenian banking sector.

FY 2013 results show Ameriabank's factoring transactions saw solid increase both on the local and international factoring markets. A year ago Ameriabank joined Factors Chain International, a major global factoring network. This membership enabled the bank clients to find new partners from about 80 countries and to enter new markets worldwide.

77% of the bank's factoring transactions fall upon the domestic market vs. 23% of international transactions.

The total value of receivables assigned under the factoring schemes to Ameriabank in 2013 made AMD 12.5 bn, up by 41% from a year earlier.

Non-recourse factoring transactions in the reporting period accounted for 58% of total factoring deals vs. 42% recourse factoring. In 2013, the volume of recourse factoring transactions increased by 6.5% Y-o-Y, with non-recourse transactions up by 2.1 times. In 2013, non-recourse classic factoring transactions offered by Ameriabank also demonstrated rapid growth to boost the total value of classic factoring schemes financed by the bank up by 27%.

In the scope of factoring finance Ameriabank closely cooperates with wholesalers and major companies from manufacturing, construction, public services and textile industries.

Updated 03.02.2014, 11:24
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