Tuesday, November 16 2010 12:41

Areximbank-Gazprombank Group increases its industrial loan book by 42 times


ArmInfo. As compared with Oct 1 2009 Areximbank-Gazprombank Group has increased its industrial loan book by 42 times (from 2.1% to 40% of the total credit portfolio) and has jumped from the 20th to the 4th rank, says the Ranking of the Commercial Banks of Armenia prepared by the Agency of Rating Marketing Information.

The press service of Areximbank-Gazprombank Group reports that the annual growth equalled 16.6bln AMD: Oct 1 2010 the amount of industrial loans totalled 17bln AMD Oct 1 2010 against just 401mln AMD Oct 1 2009.

In Jan-Sept 2010 Areximbank-Gazprombank Group increased its credit portfolio by 99% to 43.2bln AMD (almost6 77% of the bank's assets). In Q3 2010 alone the loan book grew by 28%. Construction received 13.6% of the loans, trade - 12.7%. Oct 1 2010 the assets totalled 56.3bln AMD - 44.4% more than Oct 1 2009.
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