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.
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. symbioticsgroup.com
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. www.visionmicrofinance.com
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. www.cq-am.com
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.