Wednesday, September 14 2011 14:01

Areximbank-Gazprombank Group offers Deposit "Individual" to its VIP customers


ArmInfo. Areximbank-Gazprombank Group offers a new Deposit "Individual" to its VIP customers with a possibility of replenishing the principal amount. The bank's press-service told ArmInfo the interests are accrued on the deposit every month or at the end of the deposit term. At the wish of a depositor, capitalization of interest is also possible i.e. addition of the interest to its principal amount. Depositors will get a PRIORITY status with a full package of services for more comfort.

The source reports that Deposit Individual can be opened in AMD, USD, or EUR for a term of 270-365 days or 366-730 days. The minimum deposit is 35 mln AMD, 100,000 USD, 100,000 EUR. The annual interest in AMD deposit is 11-11.5%, for USD deposit - 8-8.2% and for EUR deposit - 4.3-4.9%. At the wish of a customer, an overdraft limit can be provided in the amount of up to 70% of the deposit in the same currency and at the +2.0% interest.

Ranking of Armenian Commercial Banks prepared by the Agency of Rating Marketing Information (ArmInfo) says the share of time deposits in total liabilities of Areximbank-GPB Group amounted to 16 bln drams or some 25% on July 1 2011. 72.7% or 11.6 bln drams of time deposits are personal deposits. Time deposit of the bank grew 33% versus July 2010, 22% for the first half of 2011 and 8.3% for Q2 2011. The portfolio of time deposits of individuals grew 30.3% versus July 2010. 19.6% for the first half of 2011 and 12.6% for Q2 2011.

The sole shareholder of Areximbank GPB Group CJSC operating in Armenia since 1998 is the Russian Gazprombank. The total capital of the bank amounted to 15.1 bln drams on July 1 2011. Assets totaled 80.5 bln drams, credit exposures - 63.2 bln drams (exclusive of interbank deposits/loans - 62.9 bln drams). The bank ensured 0.4 bln drams net profits for the first half of 2011.
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