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2020 Q2 Investor Presentation 30-June-2020 INVESTOR PRESENTATION Content Ameriabank at a Glance 2020 Q2 Snapshot 2020 Q2 Financial Results Strategy Highlights Appendices 1 The Leading Bank in Armenia Overview Assets 14.8% The largest universal bank in Armenia, offering corporate, investment and retail banking services. Loans 15.8% 1st in the market by key financial indicators: assets, liabilities and equity Liabilities 15.3% Major contributor to Armenian banking sector development Ongoing appreciation and quality recognitions by reputable global Equity 11.9% institutions Net Profit Highest possible credit ratings within current sovereign rating constraints. 11.3% Ameriabank Market Share Ratings Ownership structure S&P Long-term B+ EBRD 17.76% Short-term B Outlook stable ESPS SACP bb- 19 1083 45 Imast Group Holding Ltd Branches Employees Terminals (CY) Ltd* 11.83% Moody's 48.95% Bank Deposits (LC) Ba3/NP ADB Bank Deposits (FC) B1/NP 13.94% BCA ba3 Afeyan Foundation 146 2847 515 CRA Ba3(cr)/NP for Armenia Inc. ATMs POS Virtual POS 7.53% Outlook stable Terminals Terminals * Ameria Group (CY) Ltd was renamed to Imast Group (CY) Ltd 2 Investment Highlights The Leading Bank in Armenia 1st in the market by key financial Omni channel indicators since Distribution Stable and 2015 resilient emerging Platform with economy, with Focus on Digital high GDP growth, 88% offloading low inflation and ratio 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 3 Content Ameriabank at a Glance 2020 Q2 Snapshot 2020 Q2 Financial Results Strategy Highlights Appendices 4 2020 Q2 Achievements Assets of AMD 885 B 1st Liabilities of AMD 780 B 2nd a leader Loans* of AMD 597 B 2nd per 2020 Q2 results Equity of AMD 106 B 1st Profit of AMD 4.6 B 3rd S&P re-affirms Ameriabank’s ‘B+’ Rating with Stable Outlook. Moody's re-affirmed Ameriabank’s Ba3 long-term local currency deposit rating with a stable outlook. The offloading ratio reached 88% with online banking penetration rate of 43%. Board renewal with three new Independent NEDs joining the Board – Kaha Kiknavelidze, Richard Ogdon and Tigran Davtyan; replacing Resigning Board members – Ruben Vardanyan, Noubar Afeyan and Pierre Gurdjian. 5 * net of impairment allowances and including TF COVID-19 in Armenia First registered case of COVID-19 in Armenia on March 1. State of Emergency declared on March 16, with almost total lockdown and closure of all non-essential business. Gradual lift of restrictions starting from May 1, with almost all business activities restored as of June 1, with the exception of the services that imply large gatherings (cinema, theatre, museums, schools, etc). Public transport and public kindergartens now fully operational with certain restrictions and strict control. Stricter social distancing and limitations rules enforced starting from May 18, as COVID-19 registered cases started to surge after mid May. COVID-19 cases reached the peak in the end of June with slow down of infection rates starting from July. Government Response Central Bank of Armenia Response • The Government has presented its anti-crisis • The refinancing rate was cut by 50 bps reaching program that will be not only supporting both 4.5%. businesses and households to survive the crises, • Basel III related additional buffers requirements but will also ensure competitiveness of the post- are postponed till 2021 and thresholds for the crises economy. CAR are reduced (Tier 1 threshold reduced from • The first anti-crises package has been introduced 10% to 9%). for AMD 150bn+ (2.3% of GDP) which includes • Basel III related liquidity requirements - LCR & nine support to business programs, mostly to NSFR, are postponed till Jan 1, 2021 too. SMEs and companies from the sectors that are hit harder, and thirteen social support and • Banks are offered an unlimited repo window and allowance programs. 2 to 6 month FX swap operations. Ameriabank COVID-19 Response Within it comprehensive Business Continuity Plan (BCP) Ameriabank took a number of steps and pre-cautionary actions in order to ensure safety of both employees and clients, continuity of operations and mitigate operational and financial risks. We follow strict social distancing rules within the team and when interacting with clients, with physical split of working desks, only online meetings and certain rules of conduct in the office. 70% of non-client facing staff and 40% of client facing staff have been working remotely from home since March. We implement bi-weekly shifts for the teams that cannot shift fully to remote work. Considering the expected impact on our borrowers, we have granted grace period on principal and interest payments to all retail clients and to those corporate clients who operate in the hardest hit sectors (HORECA, transportation, etc.) We have tightened risk parameters, have been working on cost-cutting and are keeping excessive liquidity and capital adequacy buffers to secure our resilience in the currently unfolding situation. Content Ameriabank at a Glance 2020 Q2 Snapshot 2020 Q2 Financial Results Strategy Highlights Appendices 8 Core Business HIGHLIGHTS Loan portfolio Loan portfolio breakdown . Increased share of retail and SME loans 6.5% 1.1% Loans to (51%) in line with the Bank’s strategy to individuals move to more universal banking 578 584 and SME model. The latter also explains 15% 543 51% growth of Retail lending with slightly 120 178 205 decreasing corporate loan book. 48% 15% . 44% increase as of Q4 2019 and 15% bln AMDbln Loans to decrease in 2Q2020 of total deposits 422 -5% -5% 400 379 corporates and bonds portfolio is mainly due 49% seasonality. Time deposit portfolio of both Corporate and Retail slightly 2018 2019 2Q2020 increased despite COVID-19 economic Corporate loans Retail loans impact. Leading the local corporate bond market with 23% market share. Deposit & bonds Corporate deposits & bonds Retail deposits & bonds 44% -15% 69% -33% 26% 3% 330 643 306 317 3 50 547 82 244 39 43.0 445 60.2 221 255 195 46 8 36 3 259 83 173 176 191 33% 1% 57 43% 1% 29% 2% bln AMDbln AMDbln bln AMDbln 134 245 63% -33% 82% -47% 27% 4% 338 228 134 130 208 74 93 97 2018 2019 2Q2020 2018 2019 2Q2020 2018 2019 2Q2020 Demand deposits Time deposits Bonds in local market Demand deposits Time deposits Bonds in local market Demand deposits Time deposits Bonds in local market 9 Asset and Liabilities Structure Assets Liabilities and equity HIGHLIGHTS . 10% YoY decrease in liabilities is -9% 24% -9% 24% due to seasonal outflow of some corporate accounts. 968 885 780 101 . Diversified balance-sheet structure 968 106 with 79% interest earning assets to 885 90 780 total assets and 70% customer 13% 4% funds to total liabilities. bln AMD bln bln AMDbln 867 780 690 26% -10% . Maintaining exceptional sectorial diversification of loan portfolio, with balanced exposure to all 2018 2019 2Q2020 2018 2019 2Q2020 industries. TOTAL LIABILITIES EQUITY Loan portfolio structure by sector Structure of assets Structure of liabilities Real estate Loans from Loans from Power 4% Communication Cash and IFIs Government generation Retail trade services Other cash 20% 2% 5% 6% 1% assets equivalent Bonds Manufacturing Food and 4% 17% 8% beverage 1% Securities Transportation Time Subordinated 6% 7% 6% deposits debt 5% Agriculture, Other 33% forestry and 2% Other timber Interbank liabilities 3% loans and 2% Construction REPO Deposits and 6% balances Loans to retail Loans to 5% Demand Hotel service from banks customers customers deposits 6% 29% 1% 30% 67% Mining/Metallurgy 5% Finance and Wholesale investment trade 1% 18% 10 Corporate and Retail Banking HIGHLIGHTS Corporate loans Trade finance and Leasing . Retail loan portfolio registered robust growth of 15% YoY, with -5% -5% 2% 17% 422 growth registered by all retail loan 400 379 25 products. 76 22 78 21 90 . Trade Finance and Leasing portfolio 2.3 8.2 5.9 recorded 17% growth with 157% 38% 10.7 significant growth in all product bln AMDbln bln AMDbln 347 11.3 2% 322 16% 289 0% 10.7 6% portfolios. -7% -10% 8 -39% 17% 5 6 . Large loans portfolio decreased by 10% YtD mainly due to limitations 2018 2019 2Q2020 2018 2019 2Q2020 Large loans SME loans ( Medium business) Balance sheet LC Factoring Finance lease on large corporate lending, in line with the Bank’s strategy to move to more universal banking model, while SME loans portfolio grew by Retail loans 16% 48% 15% 205 178 74.9 120 27% 72.8 3% 32.0 bln AMDbln 57.5 51% 26.8 19% AMD 379b 17.8 98.6 75% 78.4 26% corporate loans 44.8 2018 2019 2Q2020 Mortgages Retail business loans Consumer loans AMD 205b retail loans 11 Loan Portfolio Quality HIGHLIGHTS Coverage ratio (Stage 3) NPL (Stage 3) . NPL ratio and Cost of credit risk increased by 1.3pp and 0.6pp 4.2% 86% respectively, mainly due to 81% additional provisioning in some 3.3% loan buckets, considering COVID- 2.9% 19 related uncertainty and possible 49% negative impact. 2018 2019 2Q2020 2018 2019 2Q2020 Cost of credit risk 1.9% 1.7% 4.2% 1.3% NPL 1.9% Cost of credit risk 2018 2019 2Q2020 49% Coverage ratio 12 Capital HIGHLIGHTS Risk Weighted Assets Tier 1 Ratio . CBA has encouraged to utilize 12.0% 814,589 Basel III buffers (1%) to support lending. 11.4% 759,973 . CBA has postponed Basel III related additional buffers implementation 10.8% 694,651 and decreased Tier 1 CAR threshold from 10% to 9%.
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