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INVESTOR PRESENTATION Content 30-June-2019 INVESTOR PRESENTATION Content Ameriabank at a Glance Armenia Macro Indicators Armenian Banking Sector Indicators Ameriabank Financial Results Ameriabank Strategy Highlights Annex 1 Investment Highlights The Leading Bank in Armenia st 1 in the market Impressive by key financial indicators since Above Average Stable and 2015 Growth resilient emerging Above 20% 5-yr economy, with CAGR in key high GDP growth, financial metrics low inflation and stable exchange rates Attractive Macro Superior customer Fundamentals service, proven Best practice corporate governance leadership not only by system and principles, professional financials but also by and experienced management culture and values team Innovator and Strong Team and Trend Setter Corporate Culture 2 The Leading Bank in Armenia Overview The largest universal bank in Armenia, offering corporate, investment Assets 15.4% and retail banking services. Loans 17.2% 1st in the market by key financial indicators: assets, loans, liabilities, net profit and equity Liabilities 16.0% Major contributor to Armenian banking sector development Ongoing appreciation and quality recognitions by reputable global Equity 11.8% institutions Net Profit 14.5% Highest possible credit ratings for an institution operating in Armenia Ameriabank Market Share Ratings S&P Ownership structure Long-term B+ Short-term B Outlook stable EBRD SACP bb- 18 1027 17.8% Branches Employees Moody's Ameria Group (CY) Ltd 56.5% Bank Deposits (LC) Ba3/NP ESPS Bank Deposits (FC) B1/NP Holding Ltd BCA ba3 11.7% 133 2252 344 CRA Ba3(cr)/NP ATMs POS Virtual POS ADB Outlook stable Terminals Terminals 14.0% 3 Impressive Above Average Growth Major contributor to Among top 5 retail Above 20% 5-yr RA banking sector banks in Armenia after strategic shift CAGR* of key financial development with announced in 2011, metrics above market average with tripled Retail & growth rates SME loan portfolio the leading bank in Armenia by key financial metrics since 2015 25% 21% 20% 20% CAGR 5 y Assets Liabilities Loans to customers Customer Liabilities *CAGRs are calculated based on 2018 YE results 4 Innovator and Trend Setter Developing multichannel distribution platform, with enhanced distance banking capabilities. Fully automated scoring based online loans implemented for consumer and SME loans, online onboarding of clients and cooperation/integration with the most active payment & settlement organizations 84% yoy 67% yoy 697% yoy 142% yoy Number of customers Internet Banking Transactions Payment Terminal Transactions * vPOS * * Transactions of of 61% which 30% 92% which 38% Share of web based Share of scoring loans in total Share of web based Share of scoring loans in total scoring loans number of consumer loans scoring loans volume of consumer loans of of 91% which 38% 77% which 39% Share of SME scoring loans in Share of web based Share of SME scoring loans in Share of web based total number of business loans SME scoring loans total volume of business loans SME scoring loans ≤ AMD 10 mn ≤ AMD 10 mn * Includes not only Ameriabank payment terminals, but also other service providers, that Ameriabank cooperates with 5 ** Ameriabank’s online payment system used by online shops and service providers Strong Team and Corporate Culture Best practice corporate governance system and principles Most experienced and internationally accomplished board members in the market 6 Our Board of Directors Andrew Lindsay M. Ruben Robert von Noubar Philip Pierre Mkrtchyan Forbes Vardanyan Rekowsky Afeyan, Phd Lynch Gurdjian Non-executive Non-executive Non-executive Chairman of the Non-executive Independent Board Non-executive Non-executive Board Member Board Board Member Member Board Member Board Member Board Member Over 20 years of Over 35 years of Prominent impact Around 30 years Over 30 years of Over 30 years of Over 25 years of experience in experience in investor investment of experience in experience in experience in experience in investment and commercial and banker with more global asset venture capital finance, including advisory business, management investment than 25 years of management, management more than 20 years President of the advisory by banking, including experience, key specialized in (MP/CEO Flagship with Lehman Board of Directors standing at the more than 20 figure in Russia’s emerging Pioneering, co- Brothers in senior of the Université roots of investment years with capital markets markets funds, a founder of over 35 positions. Was CEO Libre de Bruxelles, banking European Bank of establishment, a former vice- successful life of Middle East, Asia a Board member establishment in Reconstruction Founding Partner of president at science and Pacific and Africa in various Armenia, board and Development Moscow School of Emerging technology business at universities and member in a (EBRD). Before Management Markets Strategy startups) and a Nomura, is currently international number of joining EBRD, Mr. SKOLKOVO , board and portfolio senior lecturer at the founding organizations, was private/public Forbes spent 13 member at manager for MIT, serves on a partner of Stem a Senior managing organizations. years with the numerous entities in Fidelity number of public Capital Partners - an Partner of Belgian- British Linen Bank, Russia and abroad, Investments. and private independent direct Luxemburgian the Investment member of the company boards. investment office at McKinsey Bank subsidiary of Economic Advisory company. & Company. Bank of Scotland. Board at IFC. 7 Our Management Board Strong management team with 20+ years of financial services expertise Artak Hanesyan Gevorg Tarumyan Gagik Sahakyan ArmanArman BarseghyanBarseghyan ARTAK HANESYAN CEO, Chairman of CFO, DeputyDirector, General Legal, Director, Corporate Director,Director, Retail Management Board DirectorAmeriabank Banking BankingBanking Distinguished banker with More than 25 years of Around 10 years of Around 20 years of more than 25 years of experience in the financial experience in corporate experience in operations experience in the banking system and 20 years of banking and around 15 and retail banking system of Armenia. experience as CFO in years experience in management in banking commercial banks of RA. management advisory. system of Armenia. Andranik Barseghyan Tigran Jrbashyan Gohar Khachatryan Arthur Babayan Head, Risk Director, Development Management Center Chief Accountant Director, Trading Around 25 years of Around 30 years of Around 30 years of More than 20 years of experience in financial experience holding key research experience in positions both in the experience in trading in institutions risk private and international management and regulatory body of the various commercial banks organizations. banking system and in of Armenia. automation technologies. private bank 8 2019 Q2 Major Achievements Assets of AMD 803 B 1st Liabilities of AMD 710 B 1st absolute leader Loan Portfolio of AMD 550 B st per Q2 2019 results 1 Equity of AMD 93 B 1st Profit of AMD 5.6 B 1st OFID – the OPEC Fund for International Development and Ameriabank have signed a US$25 million loan agreement aimed at supporting trade flows to and from Armenia. responsAbility launches USD 175m blended finance impact securitization transaction, arranged by JP Morgan and backed by Overseas Private Investment Corporation (OPIC) – partnered with Ameriabank, as financial intermediary for Armenia. Euromoney Award for Excellence 2019 as the Best Bank in Armenia. 9 Ameriabank at a Glance Armenia Macro Indicators Armenian Banking Sector Indicators Ameriabank Financial Results Ameriabank Strategy Highlights Annex 10 Armenia: country overview General Economy Ratings Government: parliamentary republic Currency: Armenian Dram (AMD) Moody’s: Ba3 (stable) Current PM: Nikol Pashinyan, since May 2018 Population: 3 mn Fitch: B+ (positive) GDP: 12.4 bln (2018, current $) Official language: Armenian GDP per capita: 4,188 (2018, current $) Ethnic groups: 98.1% Armenians, 1.2% Yazidis, Real GDP growth (2018): 5.2% 0.4% Russians, 0.3% other Average real GDP growth (2013-2018):3.8% GDP growth and inflation dynamics GDP Structure by production most recent 4 quarters 7.5% 18.1% 20.3% 5.8% 7.1% 5.2% 5.5% 13.3% 3.7% 3.3% 3.6% 5.9% 2.5% 3.2% 6.5% 11.4% 3.0% 1.5% 7.8% 11.2% 0.2% 1.0% Industry 2013 2014 2015 2016 2017 2018 Jan-March Agriculture, hunting, forestry and fishing 2019 Wholesale and retail trade; repair of motor vehicles, motorcycles -1.4% Taxes on products (minus subsidies) Real estate activities Construction GDP real growth, % Inflation, 12m YoY Arts, entertainment and recreation Financial and insurance activities 11 Other Armenia macro indicators AMD/USD (daily average) AMD/EUR (daily average) AMD/RUB (daily average) HIGHLIGHTS 484.5 8.4 484.1 583.8 8.1 546.9 482.1 524.5 7.4 . 2Q2019 EAI (GDP proxy) comprised 6.5%, while GDP growth for 1Q2019 -0.5% 0.4% 11.3% -6.3% -2.7% -8.8% comprised 7.1%. Jan-June Jan-June Jan-June Jan-June Jan-June Jan-June Jan-June Jan-June Jan-June . AMD/USD rate slightly increased in 2017 2018 2019 2017 2018 2019 2017 2018 2019 1H2019 vs 1H2018, yet there is a slight declining trend over 2Q2019. * Import and export Current account (BOP) . CBA international reserves slightly -0.07 increased in line with comparably 1.73 0.97 2.31 1.17 2.32 1.17 stable trade deficit. -0.23 -0.28 bln USD bln bln USD bln -0.75 -1.15 -1.15 . Remittances inflow volume Jan - June Jan - June Jan - June 1Q2017 1Q2018 1Q2019 increased by 13%, which is 5pp 2017 2018 2019 higher vs that of the previous period. Import Export Net export . International Reserves Remittances* 12-month inflation remained within CBA target range with a 6-month indicator of 2.0%. 577 623 705 2.22 USD mln bln USD bln 2.02 1.99 Jan - May Jan - May Jan - May 30-June-2017 30-June-2018 30-June-2019 2017 2018 2019 CPI (12m) Index of Economic Activity (IEA 12m) 102.4 102.0 108.8 100.5 106.3 106.5 June-2017 June-2018 June-2019 June-2017 June-2018 June-2019 Sources: Statistical Committee of Armenia, Central Bank of Armenia * Updated information is not available yet.
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