Ameriabank announces net profit of $56 million for H1

By bne IntelliNews August 16, 2023

Ameriabank has shared its unaudited financial performance for Q2 2023, highlighting positive trends. The net profit for the first half of 2023 reached AMD 21.7 billion ($56 million), signifying a 13% rise compared to the previous year, with a return on equity (ROE) of 25.3%.

In terms of key financial details, the total loan portfolio expanded by 14% year-to-date, reaching AMD 815 billion. The retail loan portfolio saw a 12% year-to-date growth, reaching AMD 371 billion. The corporate large and SME loan portfolio also experienced a 15% year-to-date increase, totaling AMD 444 billion. Notably, the total SME portfolio grew significantly by 16.7% year-to-date, amounting to AMD 196 billion. Total deposits and bonds combined achieved AMD 934 billion, reflecting a 7% year-to-date growth. The net profit saw a 13% year-on-year increase, reaching AMD 21.7 billion.

Operationally, the offloading rate and cash offloading rate were reported as 98% and 82% respectively. Online banking penetration increased to 73%, marking a 10 percentage points rise year-to-date. The Net Promoter Score (NPS) stood at 77.3%, with a Client Experience Index of 9.8. Mobile and internet banking transactions surged by 87% year-on-year, accompanied by a 50% YoY growth in users. Digital sales accounted for 49% of total sales.

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