YEREVAN, July 20. /ARKA/. Citibank, one of the world largest financial and credit organizations, has lent $4 million to Ameriabank for financing trade, Ameriabank’s press office reported on Wednesday.

In recent days, Ameriabank signed agreement CARTA (Continuing Agreement for Reimbursement of Trade Advances) with the Citibank on this loan.

This is the first loan the Citibank extends to Armenian bank grounding on its financial stability, the press release says.

This loan will ensure competitive loan interest rate to the bank’s clients and will enlarge room for foreign trade deals.

The Ameriabank has also other agreements with the Citibank. In particular, the Citibank has opened credit lines for the Ameriabank for regulating daily cash flows and trade-financing deals.

Ameriabank is a universal bank providing investment, corporate and retail banking services in a package.

The Ameriabank CJSC (former Armimpexbank renamed in May 2008) was founded in July 1992 using the facilities of the Armenian branch of the USSR Vnesheconombank (Foreign Economy Bank). On September 8, 1992, the bank received a banking license from the Central Bank of Armenia.

In August 2007, TDA Holdings limited, affiliated with Troika Dialogue, Russia’s leading investment company, purchased the bank’s shares.

Ruben Vardanyan is the chairman of the bank’s directorial board and Artak Hanesyan is director general.

Citibank was established in 1812 as City Bank of New York, and later was renamed.

Now the Citibank is a unit of the Citigroup, a giant international corporation providing financial services.

Citibank operates in more than 100 countries. ($1= AMD 366.46).-0--