The European Bank for Reconstruction and Development (EBRD) has honoured the most successful participants in its Trade Facilitation Programme (TFP) 2014 in an award ceremony on the eve of the Bank's Annual Meeting and Business Forum in Tbilisi today. Ashot Osipyan, chairman of the executive board and chief executive officer of ARARATBANK OJSC, received the award.
The ceremony was part of the TFP's annual information session, which attracted over 200 representatives from issuing and confirming banks under the programme as well as decision-makers in trade finance to discuss industry challenges with leading specialists including regulators and economists.
Alexander Saveliev, EBRD Director, Financial Institutions, opened the event with a speech detailing the evolution of the programme since 1999 followed
Leading specialists from factoring companies and organisations including Factors Chain International and the International Trade and Forfaiting Association discussed the development of this product in EBRD countries and ways to provide companies with wider access to this source of financing.
To note, as of late 2014 ARARATBANK's assets amounted to 138.8 bln AMD, credit exposure - 69.1 bln AMD, the net profit totaled 2.9 bln AMD.