Ameriabank has been recognized as Armenia’s best bank for real estate by an international financial publication Euromoney, becoming the first-ever recipient of this award in Armenia. The Real Estate Awards honor excellence in the commercial real estate sector, acknowledging not only financial success and client service, but also a commitment to improving the sector through technological advances and sustainability initiatives.
According to Euromoney, Ameriabank achieved notable growth in its real estate business in Armenia during the review period from June 2023 to June 2024. The bank’s gross mortgage loan portfolio grew by 25.3% to AMD 233.2 billion (US$600 million), capturing a 21.3% share of the Armenian mortgage market as of June 2024.
The publication highlights that this success is closely tied to the growth of MyHome.am, the digital mortgage platform, which allows users to search for properties and secure mortgage loans entirely online. A first in Armenia’s banking sector, the platform facilitates everything from property search to contract signing. Over AMD 18 billion in loans were issued on the portal over the review period, amounting to 50% of Ameriabank’s mortgage loan portfolio in the primary market, up from 38.3% a year earlier.
Euromoney stresses that the platform also expanded significantly, with the number of developers onboard rising from 25 at its launch to 68 by mid-2024, including a 172% increase in developers from regions. Property listings grew by 226%, featuring 3,100 apartments in 115 buildings by June 2024. Additionally, the platform’s new secondary market feature boosted apartment listings by 950 during the review period.
Ameriabank’s Retail Banking Director, Arman Barseghyan, commented on the Awards results: “At Ameriabank, we are committed to develop innovative solutions that enhance the digital experience for our customers and partners. The success of the MyHome.am platform is a testament to our commitment to building a comprehensive ecosystem that streamlines the home-buying process and fosters the growth of Armenia’s real estate market. We are deeply honored by this recognition and sincerely thank the Awards Jury for acknowledging our efforts and achievements to date”․
To add, Ameriabank’s mortgage team recently presented the bank’s latest accomplishments at the Synchome 2024 workshop in Prague. The event brought together around 70 international delegates from banking, fintech, alternative mortgage, and other key industry sectors from more than 15 countries. Participants discussed technological advancements and innovative solutions in home loan ecosystems.
Ameriabank is the absolute leader in the mortgage market of Armenia, with a 22% market share and a loan portfolio exceeding AMD 285 billion as of September 30, 2024.
