Ameriabank plans to develop a pension accumulation scheme

YEREVAN, January 27, /ARKA/. Ameriabank plans to develop a pension savings accumulation scheme, its CEO Artak Anesian said today at a news conference. He said the bank is implementing a pilot program with an affiliated company following which Ameriabank will offer similar schemes to all its clients.

He said the pension savings accumulation scheme was developed as a trust management fund.

He said pension payments will be accumulated on special accounts and the funds will be invested in least risky assets, such as state bonds and securities.

Ameriabank is owned fully by TDA Holding Ltd, an affiliation of one of the biggest Russian investment companies Troika Dialog. At the end of 2009 its assets totaled 103.5 billion Drams, liabilities-81.8 billion Drams, the aggregate capital-21.7 billion Drams and the charter capital 18.2 billion Drams (in terms of charter capital Ameriabank is the highest rated Armenian bank). Its overall credit investments stood at 54.1 billion Drams and liabilities towards clients at 69.1 billion Drams. Its net profits in 2009 amounted to 1.5 billion Drams. ($1 – 377.83 Drams). M.M.-0-