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On the occasion of the Army Day Mikayel and Karen Vardanyans donated 330 million drams to 1098 families of the killed in the 44-day war, having minor childrenAmeriabank named Best Foreign Exchange Bank in Armenia by Global Finance Galaxy Group Member TI’MEcelebrated its 10 years of establishment At the expense of the «Tovmasyan» Foundation in the basic school No. 143 after. Movses Khorenatsi opened a modern engineering laboratory With the support of Mikayel and Karen Vardanyans in the amount of 136 million AMD, the Myasnikyan monument was thoroughly repairedClassical music is part of the corporate culture. A joint project of Galaxy Group of Companies and the State Symphony Orchestra of ArmeniaKaren Vardanyan donated passenger cars and necessary inventory to 5 orphanages in Armenia on the occasion of June 1st Ameriabank awarded with TFP Prize for Deal of the Year 2021: Green Trade by EBRD Global Finance names Ameriabank Best Bank in Armenia in 2022 Armenia is a good place to invest in. The interview of Artyom Khachatryan, Co-Chairman of Galaxy Group, with HOTCO

TRANSFORMATION AND TRUST ARE IMPORTANT FOR SUCCESS IN MODERN BANKING. ARTAK HANESYAN

In an interview for GlobalMarkets, Artak Hanesyan, Ameriabank’s CEO, explains the bank’s strategy and highlights some of the key reasons for its success in the Armenian market.  

Global Markets: What are some of Ameriabank’s main businesses, strengths and competitive advantages?

Artak Hanesyan: Ameriabank believes in the potential and future of the Armenian economy. One of our strengths is our openness to transformation. Realizing our potential, and achieving success, comes not only from recognizing the need for change, but actually leading change and transforming. That is how we successfully navigated through the 2008 global financial crisis. That is how we transformed from a leading corporate and investment bank to leading universal bank in Armenia. That is why we have been pursuing digital transformation, investment which prepared us for some of the challenges we all faced in 2020. 

Since 2008 we have played a fundamental role in the empowerment of Armenian businesses and the Armenian people. We are the largest financial institution in Armenia, committed to bringing exceptional banking services, products and experiences to our clients and partners. Our growth and development has been based on a long-term vision, strategy and set of objectives, rather than on short-term interests. In addition, we have thrived on the trust and longstanding relations with our clients, partners and shareholders. They have inspired us to develop dynamically and transform from a traditional bank to essentially a financial and technological ecosystem built around human needs.

Global Markets: What are some of the bank’s key achievements and successful projects over the past 12 months?

Artak Hanesyan: Despite the difficulties and challenges faced by the global economy last year, we performed well and achieved some good results. As of the first quarter of 2021, Ameriabank maintained its leadership, ranking first among Armenian banks by key financial indicators, including: assets; liabilities; loans; deposits; profit; and equity capital. In fact, at the end of the first quarter, the bank’s ROA and ROE were 1.5% and 14.2%, respectively. We are also leading the Armenian corporate bond market with a share of 26% of the market, and in pursuit of our strategy to transition to universal banking model, we increased the share of retail and SME loans. In addition, we have made significant progress in distance and digital banking, with our online banking penetration rate reaching 48% (up by 12pp.) in 2020.

Global Markets: Ameriabank accessed the green bond market for the first time this year. What are your plans to further develop green finance in Armenia?

 Artak Hanesyan: Successfully issuing the country’s first green bonds was another significant achievement for the bank in the past year.  We issued a total of €42m of green bonds in close cooperation with our long-term partner, FMO, which is a public-private development bank and an anchor investor in the bonds. Sustainalytics has verified our Green Bond Framework’s alignment with the international green bond principles and global market standards in its second-party opinion. The funding raised via green bonds provides an unrivalled opportunity to finance green projects that contribute to environmental sustainability. As for the plans for the future, we aim to become the leading green bank in Armenia and look forward to greater cooperation with our partners.

Global Markets: In what digital technologies does Ameriabank see the greatest potential? What are Ameriabank’s key priorities for 2021 and strategic goals for the future?

Artak Hanesyan: To succeed, a bank needs to adapt to rapidly changing environment. Our priorities for the current year are further digital transformation and diversification. Accordingly, we are consistently expanding the capacity of distance banking, improving the quality of digital services, increasing the share of retail and SME loans, simultaneously setting the goal of double-digit growth of the loan portfolio. This will help us achieve our strategic goals, such as enhancing the performance efficiency, achieving further growth in key financial indicators, ensuring high satisfaction of our clients, partners, team and shareholders, as well as maintaining an absolute leadership in the financial market of Armenia.

Global Markets: In a number of recent interviews, your international partners have mentioned that Ameriabank is ready for IPO. What plans does Ameriabank have for an IPO?

 Artak Hanesyan: Over the past few years, we have become the largest bank in the country and achieved the highest level of cooperation with international partners. We are also constantly improving our corporate governance. An IPO would be a very important strategic milestone for us and would help support our long-term growth plans. Being a public company also means that we follow best practice in corporate governance, reporting and transparency. In this regard, I am proud to state that we already operate like a public company, being one of the exceptional companies in Armenia with a corporate governance system in compliance with IPO prerequisites. We are constantly following international capital markets, our listed peers, and have set relevant benchmarks for a successful IPO. We will launch the IPO process once we reach our mid-term targets. Timing will also depend on market conditions. As important as this is for the bank, it should also be said that whatever we do to support our growth and development, it has one ultimate goal – to help improve the quality of life. The formula of our success is transformational mindset and trust in the potential of our team, our country and economy we live and work in.

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31 Jan
Ameriabank Leading the Mortgage Market Five Years in a Row On the occasion of the Army Day Mikayel and Karen Vardanyans donated 330 million drams to 1098 families of the killed in the 44-day war, having minor childrenAmeriabank named Best Foreign Exchange Bank in Armenia by Global Finance Supporting small and medium enterprises: with the participation of Galaxy Group of Companies a Christmas exhibition-market was openedMikael Vardanyan provided 111 million drams to all the underage disabled children from beneficiary families of TavushAt ONE&ONLY Theatre in Seven Visions Hotels, The Dvin took place the fashion show of world-famous wedding and evening dress designer Jacob MeyerAmeriabank named the Bank of the Year 2022 in Armenia by The Banker MagazineAmeria PhonePOS. New application for receiving non-cash payments with a smartphoneAmeriabank Launches Google Pay and Google Wallet Support for Card Users in ArmeniaKaren Vardanyan donated life-saving modern equipment of 112 million drams to the National Center for Infectious Diseases Galaxy Group Member TI’MEcelebrated its 10 years of establishment Ameriabank: At the Vanguard of Armenia's Banking SectorAt the expense of the «Tovmasyan» Foundation in the basic school No. 143 after. Movses Khorenatsi opened a modern engineering laboratory Global Finance Names Ameriabank the Safest Bank in ArmeniaWith the support of Mikayel and Karen Vardanyans in the amount of 136 million AMD, the Myasnikyan monument was thoroughly repairedClassical music is part of the corporate culture. A joint project of Galaxy Group of Companies and the State Symphony Orchestra of ArmeniaLargest Corporate Bond Program at the Securities Market of Armenia Completed Successfully GeoProMining continues to replenish the technical fleet for maintenance of utilities in communitiesWith the support of Mikayel Vardanyan in the amount of 120 million AMD, soldiers injured in the war will recover in a new building Ameriabank Receives the Most Innovative Digital Bank Regional Award 2022 by Global Finance Magazine Armenian assets of GeoProMining Group of Compaines have significantly increased payments to the state budgetGeoProMining will assist in the reconstruction of the House of Culture of the city of AraratGeoProMining expands cooperation between Armenian and Russian universitiesThe prospects for the economic stability in Armenia were discussed at the meeting organized by Galaxy Group of Companies and the European Business AssociationLeading International and Armenian Companies Focusing on Ecosystem Solutions Join Orion Summit 2022 Non-Cash Summer: A Chance to Win 22 Travel Vouchers for the Clients of Ameriabank Karen Vardanyan donated passenger cars and necessary inventory to 5 orphanages in Armenia on the occasion of June 1st Ameriabank wins Best Bank in Sustainable Finance award for 2022 Ameriabank awarded with TFP Prize for Deal of the Year 2021: Green Trade by EBRD GeoProMining invested 100 mln. dram in subvention programs in Vardenis regionGeoProMining Armenian assets are in the list of ten largest taxpayersThe third event of DispruptHR Yerevan 2022, represented and implemented by Cascade People & Business, was held with the support of Galaxy Group of CompaniesMikayel Vardanyan provided financial assistance to 348 single mothers of children with disabilities on the occasion of Motherhood DayGlobal Finance names Ameriabank Best Bank in Armenia in 2022 300 gifts, 3 promotional draws ․ Winners of Ameriabank’s promotional draws “Live Armenian”, “Live with a Smile” and “Live Limitless” are announced Armenia is a good place to invest in. The interview of Artyom Khachatryan, Co-Chairman of Galaxy Group, with HOTCOThe result of cooperation between the «Tovmasyan» Foundation, «Goodnes without borders» and «Via Magna Vranov». The first batch of humanitarian aid arrived in OdessaOn the occasion of March 8th, Karen Vardanyan donated 96 million AMD to mothers of many children in Syunik province.Lindsay Forbes talks about the role of IPO and corporate governance Ameriabank is the First in Armenia to Place Green Bonds via Public Offering The Tovmasyan Foundation organized a flash mob on the occasion of the 30th anniversary of the Armenian Army (video)Ameriabank. The Largest Taxpayer among Armenian Banks According to the Results of Year 2021US$ 25 million to Ameriabank from EBRD and donors for private sector lendingAmeriabank Brings Apple Pay to Customers Ameriabank has Raised EUR 15M Tier 2 Capital from Triodos Investment Management Next Branch of Ameriabank Launched in Malatia-SebastiaThanks to financial support amounting 100 million drams from Karen Vardanyan, “Muratsan” University Hospital Complex has been replenished with new medical equipmentA hospital room was opened in Armenia's first child palliative care clinic with the support of the “Tovmasyan” FoundationAmeriabank has Signed USD 20 million Loan Agreements with responsAbility and the Global Climate Partnership FundTovmasyan Foundation: Christmas fair is held
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