![]() ![]() We continued to manage the largest loan portfolio in the Armenian banking sector, with 30% CAGR over the last 5 years. The CAGR of Bank’s assets for the last 5 years was 29%, increasing the market share from 9.7% to 17.4%. We closed the year with a record growth of assets and loan portfolio: 39.4% and 61.4% Y-o-Y growth respectively. We remain the largest financial institution in Armenia with leading positions by all key indicators. It was another year of progress and new achievements, as Ameriabank continued to deliver on its business plan targets, overperforming the market in terms of growth, asset quality and profitability. Summing up our results and achievements, I would like to express my gratitude to all our clients, partners and shareholders for their trust, loyalty and continuous support of our business. I want to thank our team for their utmost devotion and great teamwork. I am proud to be part of this talented team that shares same core values leading to exceptional performance. In line with global digitization trends in the banking industry, we have initiated major infrastructural projects in 2016, which will significantly optimize the work flow and improve client user experience.Īll these achievements were possible only due to diligent and hard work of our management and employees. We are steadily improving our business processes and service quality, with continuous investments in IT infrastructure and digital solutions. ![]() We are proud to mark that Ameriabank has managed to reach significant milestones having one of the most advanced and transparent financial reporting in the local market and a corporate governance model in line with international best practice. The road to international capital market requires not only outstanding financial performance, but also enhanced corporate governance, best in class internal control and transparency. We believe that absolute market leadership, resilient growth, enhanced profitability and sound risk management will be our key drivers to a successful IPO. 2016 performance results have moved us one step closer to our strategic ambitions, with continued improvements in all aspects of our business mix. We are in constant endeavors of growth opportunities, both organic and non-organic, targeting to outperform the market in terms of business growth. We remain committed to our strategic plan of IPO in the international capital market and set our business targets accordingly. Our main objective in the coming year is to maintain our leading position in the local financial market with an emphasis on improved profitability and continued discipline in cost efficiency. ![]() Under these market conditions Ameriabank not only retained its leading positions, but also significantly increased its market share, with impressive growth of both assets and profitability levels. The banking system went through significant restructuring and consolidation, with fierce competition among the major players. As a result, a significant amount of new capital was injected into the banking system, which should have a positive impact on the economy in the coming years. The year was pivotal for the Armenian banking sector, as the deadline for complying with the Central Bank’s (CBA) requirement of increased regulatory capital was approaching. With the parliamentary elections in April 2017, we can reasonably expect that the overall geopolitical vector and principal economic reforms will remain unchanged. The changes in the Government brought positive expectations, especially in terms of foreign direct investments and development of business environment. In the environment of temporarily increased risk and significantly decreased consumer demand, Armenian economy still registered growth, with slowed but positive GDP growth rate. Overall, it was quite a challenging year for the Armenian economy, caused by external factors stemming from Russia’s economic downturn and regional conflicts. We managed to achieve almost all our business targets and significantly increase our profitability notwithstanding temporary macroeconomic turbulence and political uncertainty. I am proud to announce that we have completed yet another successful year, retaining our absolute market leadership by all key financial indicators. Dear Customers, Shareholders and Partners, ![]()
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