Ameriabank demonstrated impressive growth in its real estate business during the review period.
Its gross mortgage loan portfolio increased 25.3% to Dram233.2 billion (US$600 million), capturing a 21.3% share of the Armenian mortgage loans market.
This success is closely tied to the launch of the lender’s digital mortgage platform, Estate.ameriabank.am, 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 and notarization.
Over Dram18 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.
The number of developers using the platform also saw significant expansion, increasing from 25 at the platform’s launch to 68 by mid-2024. This included a 172% rise in regional developers. The platform’s property listings grew by 226%, including 3,100 apartments in 115 buildings by June 2024.
The platform’s latest addition was a secondary market proposition, helping Ameriabank boost its apartment listings by 950 over the review period.