Tuesday, December 18 2012 15:05
Efficient Risk Management System introduced at Areximbank-GPB Group
ArmInfo. As of October 1 2012 the foreign exchange and interest rate risks of Areximbank - Gazprombank Group totaled 0.01% and 0.13% respectively, the bank's press-service told ArmInfo.
The resource reported that since 2010 an Integrated Risk Management System has been introduced at the Bank, which implies development of a risk based policy and procedures of banking operations, constant risk monitoring and efficient system of risk reporting and escalation at the level of the Bank's leadership and the parent organization - Gazprombank OJSC.
The Bank's policy of financial risk management aims to maintain the closed foreign exchange position, coordinate asset and liability maturity.
The bank controls over contract and anticipated liquidity, ensures the necessary volume of high-liquidity assets, and analyzes the accessibility of sources of additional financing.
As for the credit risk, the bank is committed to payback principles, security of loans, and compulsory risk- management in the process of decision making related the operations bearing credit risks. As a result, the loan portfolio of the bank grew 18% as of Oct 1 2012 versus the beginning of the year. The quality of the loan portfolio has been improved as well. Introduction of the system of Internal Ratings at the Bank in late 2012 was a serious step in credit risk management. It will enable the bank to assess the solvency of borrowers building on a single system approach. All the above measures bring the bank to a situation ensuring the desirable yield in conditions of acceptable risks.
The Bank has successfully passed ISO 9001:2008 international standards certification in 2010 (by AB Certification, France). In 2012 Areximbank-Gazprombank Group successfully passed certification on information safety and met ISO 27001: 2005 standards (by Certification International United Kingdon).
"Areximbank - Gazprombank Group" CJSC has been established in 1998 to support the business and manage financial flows between Russia and Armenia. Since 2007 the shareholder of the Bank is one of the largest Russian banks - "Gazprombank" (Open Joint Stock Company), whose penetration into the Armenian financial market is conditioned by the increase of investments of Russian companies into the Armenian economy, the needs of large corporate clients in complex banking services, as well as the necessity in funding "Gazprom" projects in the country's territory.
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