The Netherlands Development Finance Company (FMO) intends to continue its successful experience on making investments in Armenia’s banking system.
“Currently we negotiate certain financing with another Armenian bank,” said Jurgen Rigterink, Chief Investment Officer of FMO.
However, he refrained from naming the bank, as the negotiations are not over yet. Mr. Rigterink only noted that the bank is ranked among the best 10 banks of Armenia. “When we enter a country, we study its market and potential. As a rule, we work with the most transparent and reliable organizations, like Ameriabank,” he said.
FMO, jointly with DEG, has already granted a $30mln loan to Ameriabank CJSD for financing of small and medium business, as well as renewable energy sector.
Mr. Rigterink said that FMO’s credit portfolio in 4 best banks of Georgia totals $100mln.
According to him, in contrast to western European banks, FMO supports its partners even in hard times. “We continued working with our partners in 2008-2009. It proves that we build long-term relations, with Armenian banks as well,” he said.
Moreover, Mr. Rigterink believes that the trends of global economy rehabilitation indicate activity in the bank sector. Thus, the amounts of FMO’s investments in Armenia will depend on its economy needs. “Under the current situation, banks will need more funds,” he said.
FMO’s credit portfolio totals $6.5bln and the company grants loans worldwide at the amount of $1.5bln in three sectors annually: to financial organizations, renewable energy field and residential construction.
