Thursday, June 3 2010 16:15

ArmInfo. Timely and adequate response to the shock situations happening in the financial market, allowed Areximbank - Gazprombank Group to essentially reduce the indicators of currency, interest-rate and other banking risks.

As the bank's press service told ArmInfo, as of March 31, 2010, indicators of currency and interest-rate risks as compared to December 31, 2009, reduced from 0.07% and 0.2% to 0.015% and 0.1%, respectively, and the bank's capital grew from 13,828 mln drams to 13,909 mln drams.

According to the message, the global financial crisis affected the whole banking system of Armenia and, under these complex conditions, Areximbank - Gazprombank Group CJSC took all the required measures to resist the crisis phenomena. The bank tightened the lending terms, reduced the consumer lending volumes (the latter was stipulated also for the Bank's policy aimed at increase of the corporate portfolio volumes), intrabank standard of short-term liquidity was increased, adopt tight control over observance of the closed foreign exchange position. Stress-testing was held on a permanent basis, first of all
based on volatility of on-call liabilities. All this gave a positive effect and the bank completed the financial year with profit. So, the bank succeeded to preserve its positions in the market and confirm the reputation of an absolutely reliable financial structure. As a result, Areximbank - Gazprombank Group CJSC is currently active in all the spheres of banking activity with high level of capitalization and liquidity.

According to the data of Ranking of Armenia's commercial banks, prepared by Agency of Rating Marketing Information (ArmInfo), total capital of Areximbank - Gazprombank Group as of April 1, 2010, made up 14.1 bln drams, assets - 45.6 bln drams, credit investments - 25.5 bln drams. Upon the results of 1Q, 2010, the bank assured profit at the rate of 87.9 mln drams.