YEREVAN (Arka)—Ameriabank has received the 2013 Deal of the Year award from the European Bank for Reconstruction and Development (EBRD), the press office of Ameriabank reported.

 

The official award ceremony took place in Warsaw on May 16. The award was handed to Ameriabank’s director on corporate transactions Gagik Sahakyan at the annual meeting as part of annual EBRD’s Trade Facilitation Program (TFP) awards.

A transaction between Ameriabank and Commerzbank guaranteed by the EBRD was considered the Deal of the Year. Dutch FMO bank of development contributed to the deal, having covered certain part of political and payment risks. The transaction was of strategic importance to Armenia’s telecommunications, the press office said. Importance is attached also to the fact that the deal was made under favorable conditions, Sahakyan said adding the aim was to bring the telecommunication field to a new level to help create new jobs both in Yerevan and the region.

Ameriabank has also been recognised by the EBRD as most active issuing bank of 2013 and the first Armenian confirming bank.

Ameriabank, an acknowledged reliable partner in the financial market, continues to actively cooperate with international financial organisations and prestigious overseas banks, according to the report. The bank currently has an approved limit of over 110 million dollars, says the report.

The bank is further expanding its cooperation with importers and exporters in trade financing. The volume and the number of letters of credit by the bank rose by 43 percent and by 40 percent in the first quarter of this year respectively, compared to the same period of the year before. The amount and the number of securities issued by the bank in the period rose by 148 percent and 90 percent respectively.

Ameriabank is a universal bank that provides investment, corporate and retail banking services in packages. The bank was the first investment bank in the country and has been providing a wide range of innovative banking services since 2007.