Wednesday, May 5 2010 12:57
Areximbank - Gazprombank Group intensifies corporate banking development
ArmInfo. Areximbank - Gazprombank Group is going to intensify corporate banking development. As deputy Director General of Areximbank - Gazprombank Group Vigen Barseghyan told ArmInfo, attraction of big corporate clientele for service has become one of the goals for Areximbank with entry of the Russian Gazprombank in Armenia.
According to him, the bank is actively using the capabilities of the Russian Gazprombank in the area of target financing of big projects in Armenia for attraction big corporate clientele. V. Barseghyan said that according to the development strategy, Areximbank - Gazprombank Group is going to intensify its positions in Armenia's corporate crediting market, attract new corporate clients and assure competitiveness in corporate clientele service.
Within the frames of a new development strategy, it is scheduled to increase the volume of funds, attracted from clients, by 50% till late 2010, and 2,5 times - till late 2012. Moreover, it is envisaged to increase the volume of funds, attracted from legal entities, by 70% till late 2010, and almost threefold - till late 2012. Moreover, it is scheduled to increase the bank assets almost twofold till late 2010, and threefold - till late 2012. Moreover, the Bank's credit portfolio will grow more than twofold in 2010, and almost fourfold - till late 2012. Increase of earning assets will allow the bank to get profit of about $2 mln by late 2010, and to $7.5 mln - by late 2012, that supposes assurance of ROA and ROE indicators not lower than the average banking level, Barseghyan said. According to him, big corporate clients currently diversify the banking sources of getting resources, that is connected with limitation of the risk standard per a borrower, based on which the banks have no opportunity to fully provide the credit resources the client needs. "As a result, a client "divides" among several banks, without optimization of expenses for bank servicing", he said. Barseghyan assured that Areximbank - Gazprombank Group does not currently put limitations to the borrower crediting volume. So, the bank is shortly going to extend big credits to legal entities to $100 mln at the cost of the own and attracted funds, due to which the bank's credit portfolio will grow twofold at least. According to him, the bank envisages to attract enterprises for service within the frames of international credit programmes, for further development of cooperation with the corporate sector.
Along with it, the deputy director general said Areximbank - Gazprombank Group does not intend to deviate from crediting of individual persons, with intensive development of corporate banking. "A big bank must not set itself apart from any kind of the banking business, and the bank's portfolio should be diversified", he said and added that a system-forming bank must be fully involved in economy. The bank's clients currently exceed 57,000, 2,5 the of which are legal and about 55,000 - individual persons.
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