Ameriabank, Citibank, ADB seal deal to expand cooperationMay 7, 2019 - 16:51 AMT PanARMENIAN.Net - Ameriabank and Citibankhave signed a new trade finance deal, Ameriabank raising about $14 million loan from Citibank. Part of the loan has been extended under the existing credit limit opened by Citibank for Ameriabank, while the rest is secured by guarantee of the Asian Development Bank. Ameriabank has the status of issuing and confirming bank under the Asian Development Bank’s Trade Finance Program. The new facility will secure better and more competitive terms for Ameriabank’s clients engaged in foreign trade. Citibank and Ameriabank have been cooperating for several years during which the number and volume of deals have been continuously growing, which is the best proof of mutual trust and efficiency. Ameriabank has an average $100 million pool of borrowed funds a year for trade finance purposes, and this deal is another successful one in the scope of trade finance. The first investment bank in Armenia, Ameriabank has been providing a large package of innovative banking services since 2007. Now Ameriabank CJSC is a universal bank offering corporate, investment and retail banking services in a comprehensive package of banking solutions. Ameriabank is the leading bank in Armenia as measured by all key financial indicators (assets, liabilities, loans portfolio, net profit and equity) according to the 2018 year reportable data. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | U.S. welcomes Armenia, Azerbaijan’s border delimitation announcement Blinken said it is an important step towards concluding a durable and dignified peace agreement. Residents Of border villages protest as Armenia, Azerbaijan agree on delimitation Residents of several Armenian communities in the northeastern Tavush province began protests late on Friday. European Parliament to discuss repression in Azerbaijan The European Parliament will discuss repression of civil society in Azerbaijan on April 24 PACE wants concessions from Azerbaijan to accept Baku back A PACE co-rapporteur said that Azerbaijani authorities must make certain concessions so that the country can return to PACE. |