Wednesday, October 16 2013 19:02

Areximbank-Gazprombank Group marks 15th anniversary of its activity in Armenia


ArmInfo. Gayane Isahakyan. Areximbank-Gazprombank Group has marked the 15th anniversary of its activity in Armenia. The event took place on October 15, Tuesday, at the Cafesjian Center for the Arts.

Armen Khandkaryan, Director General of Areximbank-Gazprombank Group, said that the Bank has gained big success by becoming one of the largest banks in Armenia and holding the leading positions by the growth rates of its basic indices. "When Gazprombank, one of the largest bank of Russia, became a shareholder of Areximbank in November 2007, the latter seriously strengthened its positions on the market by launching a wide range of new products, strengthening the risk management system and finding big customer borrowers in the person of systematically important enterprises of the country", stressed Khandkaryan.

Viktor Korendyuk, Deputy Chairman of the Board of Gazprombank OJSC, First Vice President, Head of the Regional Business Department of Gazprombank, member of the Council of Areximbank-Gazprombank Group CJSC, congratulated the Bank on its 15th anniversary. On behalf of the parental bank, he awarded Badge of Honor gold medals with diamonds to Armen Khandkaryan and Deputy Director Vigen Barseghyan. Armenian Prime Minister Tigran Sargsyan addressed a congratulatory video message to the Bank.

The Financial Rating of Armenian Banks by the Agency of Rating Marketing Information (ArmInfo) says that as of 1 October 2013 the assets of Areximbank-Gazprombank Group amounted to 157.6 bln AMD (40.3% y-o-y growth). The total capital made up 21.4 bln AMD (up 29.1% as compared with the same period of 2012). The total liabilities grew by 42.3% 136.2 bln AMD, and the net profit totaled 413 mln AMD. In Q3 2013 Gazprombank provided its Armenian subsidiary with a subordinated loan worth 4.1 bln AMD, and the authorized fund of the Bank grew from 12.347 bln AMD (in early 2013) to 16.452 bln AMD by 1 Oct 2013 and increased the total capital from 16.833 bln AMD to 21.351 bln AMD. As of 1 Oct 2013, the Bank's lending totaled 98.8 bln AMD.

To note, in November 2007 Gazprombank OJSC acquired 80% of Areximbank's shares. In July 2008 Gazprombank's stake rose to 94.15%. In September 2008 Gazprombank bought out the remaining 5.85% from Raiffeisenbank and became the sole owner of Areximbank-Gazprombank Group.
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