Tuesday, March 15 2011 17:49

In 2011 Areximbank-Gazprombank Group intends to increase assets by 37% and secure 3.5 mln USD profit


ArmInfo. In 2011 Areximbank-Gazprombank Group intends to increase the volume of attracted funds by more than 40%. Areximbank-GPB Group Director General Advisor for Public Relations Yelena Markova told ArmInfo that the bank's assets will be increased by 37% in 2011, in their structure the credit portfolio will grow by 50%. The growth in revenue assets will allow the bank to secure about 3.5 mln USD profit at the end of 2011, and this implies ensuring the indices of return on assets and return on equity not lower than the average banking level.

To recall, as of 1 Jan 2011 the authorized capital of Areximbank-GPB made up 12.3 bln AMD, total capital - 14.4 bln AMD. Over 2010 the net profit of Areximbank-GPB increased 5 times and amounted to 1 bln AMD. In 2010 the bank's assets grew by 72.8% to 67.4 bln AMD, provision of crediting - by 130.8% to 49.4 bln AMD.

To note, Areximbank-GPB Group was set up in August 1998 to support entrepreneurship and serve the financial flows between Russia and Armenia. The owner of 100% of the bank's shares is Gazprombank OJSC.
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