Ameriabank's responsibility is to help raise Armenia’s profile among international investors, says CFO to Forbes magazine
YEREVAN, September 29. /ARКА/. In an interview with Forbes magazine that has released a special report focusing on Armenia, highlighting the nation's economic and investment appeal, Hovhannes Toroyan, the Chief Financial Officer of Ameriabank, elaborates on the bank's crucial contribution to the Armenian economy, as the largest financial institution of the country in terms of loan portfolio.
The report also features an independent review of Ameriabank, detailing the bank's performance and accomplishments across different business sectors in recent years. Asked how the bank is contributing to Armenia’s investment climate Mr. Toroyan says Ameriabank sees its responsibility to help raise Armenia’s profile among international investors.
According to him, Armenia still lacks visibility compared to similar countries, so the bank actively shares data on the economy and banking sector with a large network of global investors.
He says: 'We closely work with investment banks, funds and institutional players to build awareness of Armenia’s potential. This constant engagement is key because improving Armenia’s image abroad is a long game. We want decision-makers to think of Armenia when they map out new investment destinations in the region. '
Asked to tell about the bank’s new partnership with Lion Finance Group PLC Mr. Toroyan says Ameriabank is one of the key subsidiaries of the Lion Finance Group PLC and yet, the bank remains independent in governance and operations at the same time benefiting from cross-sharing valuable experience with sister-banks in the Group.
'We openly share lessons, both on what has worked well and where we have faced challenges, and we adapt these insights to each market’s unique customer behavior. Beyond sharing know-how, this connection helps us highlight regional opportunities so that investors and clients benefit from the combined strengths of the economies rather than treating them in isolation.'
Mr. Toroyan also speaks about the digital transformation that helped shaped the bank’s success, saying digital transformation has been at the heart of Ameriabank’s growth strategy for almost a decade.
According to him, over 99 percent of transactions now happen outside of the branch network, with more than half of sales stemming through online channels. He says this shift lets any Armenian citizen open an account, apply for a loan, make deposits or do transactions they need from anywhere outside the bank.
'We believe in meeting customers where they are, and Armenia’s high internet usage makes this possible. Last year alone, our transaction volume rose more than six-fold, thanks to these sustained investments in our digital infrastructure. We se outstanding dynamics in use of digital services. Our monthly active users grew more than 50% during last 12 months.'-0-
