Thursday, December 16 2010 17:06

In 2011 Areximbank-Gazprombank Group expects 1.3bln AMD profit


ArmInfo. In 2011 Areximbank-Gazprombank Group expects profit worth 1.3bln AMD or $3.5mln - 50% more than this year, Deputy CEO of Areximbank-Gazprombank Group Vigen Barseghyan said in an interview to ArmInfo.

By the end of this year the bank's liabilities will total 57bln AMD, while the regulatory capital will amount to 20bln AMD. In 2011 the assets will be increased by 40% (30bln AMD) to 102bln AMD, the loan book - by 22bln AMD (40%) to 70bln AMD.

The corporate loan book will grow by 20bln AMD (50%) to 60bln AMD (82.5% of the total lending portfolio), the private loan book - by 2bln AMD (16.7%) to 13bln AMD (17,5%).

By the end of 2011 the bank's liabilities will total 83bln AMD - 45% more than in 2010.

The sole shareholder of Areximbank-Gazprombank Group is Russian Gazprombank. According to the Ranking of Commercial Banks of Armenia prepared by the Agency of Rating Marketing Information (ArmInfo), Oct 1 2010 the bank's assets totalled 56.3bln AMD, whereof 77% or 43.2bln AMD were loans.
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