Armenia’s largest universal bank Ameriabank improves Q2 net profit by 5.6% y/y

Armenia’s largest universal bank Ameriabank improves Q2 net profit by 5.6% y/y
Ameriabank's HQ in Yerevan. / IM3847.
By bne IntelliNews September 9, 2019

Armenia’s largest universal bank Ameriabank improved its net profit by 5.6% y/y to Armenian dram (AMD) 5.6bn ($11.7mn), the lender said on September 7.

Net interest income amounted to AMD14.9bn, up by 21% y/y, while the return on equity (ROE) and return on assets (ROA) stood at 12.1% and 1.4%, respectively

Ameriabank added that during the second quarter its net interest margin (NIM) stood stable at around 4.8% while its total assets amounted to AMD803bn, up by 3% in the year to date.

The bank’s total loan portfolio was higher by 1.4% YtD and 13% y/y. Its retail loan portfolio was up by 17% YtD, reaching AMD140bn. The retail and SME portfolio share in total loans reached the strategic target of 40%, Ameriabank said.

Tier 1 and total capital adequacy ratios stood at 11% and 13.5%, respectively, for the second quarter.

Ameriabank markets itself as having become “a champion by growth rates within ten years of operations, acquiring the top market position among its peers”. Of Armenia’s 17 banks, it is the number one by assets, liabilities, the loans portfolio, net profit and equity. 

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