YEREVAN, October 26. / ARKA /. German Commerzbank approved a large unsecured and unwarranted loan for Armenian Ameriabank (bilateral credit), the press service of the Armenian bank said to ARKA.

 

According to the report, it was the first such deal approved by Commerzbank for the Armenian bank, based on the latter’s reputation of a reliable partner and given its strong financial position and credible activities in the international arena.

 

Ameriabank said the loan will be channeled to finance small and medium businesses and provide a competitive environment for customers.

 

The first unprecedented for Armenia's banking system transaction between these banks was made in May this year, when Commerzbank approved for Ameriabank a 700 million dram guarantee for trade financing (in the Armenian national currency).

 

Ameriabank is a universal bank that provides investment, corporate and limited retail banking services in an integrated package of banking solutions. It is owned by Troika Dialog, one of the largest investment banking companies in Russia.

 

German Commerzbank was founded in 1870. It is the second largest bank in Germany in terms of assets (400 billion euros). It has 36 thousand employees who serve approximately 8 million customers in more than 40 countries.  -0-