Tuesday, May 22 2012 15:47
Russian Gazprombank expected to increase statutory capital of Areximbank-GPB Group by $10 million in 2012
ArmInfo. Russian Gazprombank is to increase the statutory capital of Areximbank-GPB Group by $10 million to $41.5 million in 2012, the bank's press-service told ArmInfo.
With acquisition of the full package of shares in the Armenian bank in 2008, Gazprombank increased the statutory capital of CJSC Areximbank-GPB Group by $20 million. In 2009 this indicator was increased by another $10 million. The source reports that Gazprombank LLC provided loans and credit lines to Areximbank-GPB Group CJSC in the amount of over $100.0 million as of April 30 2012. A total of $50.0 million of the above sum were target financing to ArmRusgasprom CJSC for modernization of the 5th power unit of Hrazdan HPP, with the remaining amount being on-lent to corporate customers and SME.
Ranking of the Armenian Bank prepared by the Agency of Rating Marketing Information (ArmInfo) says total capital of Areximbank-GPB Group as if April 1 2012 amounted to 15.9 bln drams ($40.8 mln - 10th position) with 5.8% growth year-over-year. Credit exposures of the bank grew 48.8% versus April 2011 and 9.4% for Q1 2012 to 83 bln drams ($212.5 mln, 8th position). In the structure of the loan portfolio, financing of economy sectors totaled 83.7% or 69.5 bln drams ($117.9 mln, 6th position) with 59.5% growth year over year and 11.78% growth for Q1 2012. The loan portfolio of the bank is diversified as follows: industrial loans - 37.7%, trade finance - 20.2%, construction loans - 11.2%. SME financing totaled 7 bln drams or $18 mln.
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