Ameriabank joins Factors Chain International

PanARMENIAN.Net - In January 2013, Ameriabank CJSC joined the Factors Chain International, a global network of factoring companies.

“The membership will enable the bank to enhance its capacity of providing international factoring services, enabling its clients to expand their businesses by establishing partner relations with 80 countries of the world and new markets,” the bank’s press service reported.

Ameriabank CJSC occupies leading positions in Armenian banking sector, with the number of factoring transactions growing by 47% to amount to AMD 7 bln, the bank’s press service reported. 91% of 2012 factoring transactions are conducted in the domestic market, with the rest of 9% - international market.

According to the bank’s factoring division specialist Angela Khachatryan, 29% of the factoring transactions related to the import industry, 24% - wholesale, 15%- manufacturing industry, 14% - construction, with the rest of the deals relating to the electricity production and service sectors.