Friday, August 31 2012 20:59

Gazprombank will fund Rosneft's construction projects in Armenia


ArmInfo. Once Rosneft comes to Armenia, it will start implementing large construction projects, and Gazprombank is ready to fund them, Deputy Chairman of the Board of Gazprombank, Chairman of the Council of Areximbank- Gazprombank Group Nikolay Korenev told journalists on Friday.

He said that he was informed of Rosneft's plans during his meeting with the Armenian Prime Minister earlier in the day.

"In 2007 Gazprom decided to develop Areximbank by enlarging the bank's capital and attracting big customers. We will continue enlarging Areximbank's capital in line with our policy of reasonable sufficiency," Korenev said.

Deputy Chairman of the Council of Gazprombank Alexander Muranov said that Gazprombank's activities are aimed at developing infrastructure in the fields of transport, energy and defense. "I think that our business interests in Armenia will be developing in the same directions," Muranov said.

At present Gazprombank's investments in Armenia's economy total $185 mln, of which $100 mln - in Areximbank's development and $85 mln - in ArmRusgasprom.

According to the Ranking of Armenian Banks by the Agency of Rating Marketing Information, Areximbank-Gazprombank Group is among the top ten leaders in terms of assets - over 16 bln AMD. As of 1 July 2012, the Bank's lending totaled 90.9 bln AMD (8th position), and total capital amounted to over 16 bln AMD.

The Bank was founded in 1998. Gazprombank OJSC has been the sole shareholder of the Bank's shares since 2007.
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