Ameriabank Raises Tier 2 Capital from Symbiotics SA
5 November, 2020 Ameriabank has entered into long-term subordinated loan agreement with Symbiotics SA for USD 15 million, with possible increase up to USD 25 million. The funds qualify as Bank Tier 2 capital instrument under Basel III framework and are aimed at strengthening the overall capital position of the Bank.
Ameriabank CEO Artak Hanesyan commented: “We highly appreciate the relationship with our partners at Symbiotics SA and are delighted to continue it with a long-term subordinated loan facility now. The new funds will help us to not only sustain loan book growth but also provide much needed support to the Armenian businesses in these challenging times. The Facility arrives just in time, when the regulator encouraged the banks to attract capital by means of Tier 2 instruments, and we plan to raise more Tier 2 Capital still this year. This is also an important milestone en route to our IPO and I thank again our partners for their continuous support and trust in Ameriabank”.
“Together with our anchor investor in this deal, C-Quadrat, we are glad to support our long-standing partner Ameriabank with Tier II capital alongside the global pandemic and look forward to jointly ensuring uninterrupted access to finance for the local micro – small and medium sized enterprises in this economically challenging period”, noted Sofia Tulupova, Symbiotics Co- regional Manager for ECA and MENAP.
“For more than ten years, Vision Microfinance has enabled people in developing countries to make decisive improvements in their living conditions. This has become possible due to the successful cooperation with Symbiotics and the reliable network of local financial institutions that has been carefully built within these years. Ameriabank is one of the highest rated partner institutions in our investee network and we are glad that with this facility we managed to deliver a timely support to the bank that will further serve its goal of financing MSME clients of the bank in urban and rural areas of Armenia.”, noted Günther Kastner, the founder, Managing Partner and CIO of C-QUADRAT Impact Asset Management GmbH.
About Symbiotics SA
Symbiotics is the leading market access platform for impact investing, dedicated to financing micro- small and medium enterprises and low- and middle-income households in emerging and frontier markets. Since 2005, Symbiotics has structured and originated some 4,000 deals for over 450 companies in almost 90 emerging and frontier markets representing more than USD 5.5 billion. These investments have been purchased by more than 25 fund mandates and more than 50 third party specialized fund managers, forming a growing ecosystem and marketplace for such transactions.
About DUAL Return Fund/C-Quadrat
The Dual Return Fund - Vision Microfinance contributes to sustainable development worldwide by working towards majority of United Nations Sustainable Development Goals (SDGs). Over 1.77bn USD distributed in the form of 1123 loans to 303 different Microfinance Institutions in 67 countries, reaching out to an estimated more than 2,5 million micro entrepreneurs including their families.
C-Quadrat Impact Asset Management, Austria, investment manager of the Dual Return Fund, is a leading independent asset management company in the German speaking region specializing in asset allocation, analysis and management of absolute return, sustainable investments and microfinance fund products.
Ameriabank is a dynamically developing bank and one of the major and most stable financial institutions in Armenia with clearly formulated digital agenda. The first investment bank in Armenia, Ameriabank is a universal bank offering innovative corporate, investment and retail banking services in a comprehensive package of banking solutions.
For further information, please visit www.ameriabank.am.
We Will Continue to Fight to Make Your Dreams Come True: Garo Paylan about Hrant Dink
Armenia’s Minister of Defense Receives Delegation of Yerkrapah Volunteer Union
Trump Orders to Restrict Purchase of Unmanned Aircraft Systems from Russia and China
Stepantsminda-Larsi Highway is Closed
Stable Operational Situation Maintained along Armenian-Azerbaijani Border
Ombudsman Tatoyan, German Ambassador Discuss Return of Armenian POWs from Azerbaijan
Lavrov, Head of UN Alliance of Civilizations Discuss Upcoming Conference
5 Day Weather Forecast in Armenia
Minister of Foreign Affairs of Artsakh Sent Letters to International Structures in Connection with Armenian Prisoners of War and Civilians Detained by Azerbaijan
Bodies of 7 Servicemen And 1 Civilian Found During Search Works in Karabakh
Armenia Records 164912 Confirmed Coronavirus Cases
Some Roads are Closed in Armenia
Iran, Turkey Ink 3 Railroad Deals
India Moves ahead to Procure more MiG-29s and Sukhois
Russia’s FM Says Now not the Best Time to Discuss Nagorno Karabakh Status
Armenian Ambassador to Attend Biden Inauguration
5 Day Weather Forecast in Armenia
Armenia's PM Replaces Head of his Staff Eduard Aghajanyan with Released Health Minister Arsen Torosyan
Foreign Minister of Artsakh Received Representatives of the ARF Dashnaktsutyun Supreme Body of Armenia and Central Committee of Artsakh
COVID-Infected President Sarkissian to Be Discharged from Hospital Soon
Lavrov: No Provocations Against Russian Peacekeepers in Nagorno-Karabakh
Azerbaijan President's Statement Contradicts point 8 of Statement Signed on November 9, 2020: Arman Tatoyan
Artsakh Authorities Find More Bodies of Fallen Troops in Ongoing Search Operations
Artsakh Security Chief: We Could Have Avoided the War
Colorado Identifies First Known Case of UK Coronavirus Variant in US
Armenia to Import 2,250 Goods from Iran Instead of Turkey
Bodies of 1,111 Fallen Armenian Soldiers Retrieved So Far: Artsakh Emergency Service
Let's Believe that 2021 Will Restore Our Lost Dignity
Armenian, Azerbaijani Intelligence Chiefs Discuss PoW Exchange at Moscow-Mediated Meeting
Armenia Ombudsman: What Azerbaijan Military has Done is Step with Clear Intention to Intimidate Civilians
Wind: 8 km/h