Thursday, September 15 2011 18:25
Areximbank-Gazprombank Group launches a Gazprombank-Festive deposit on occasion of 20th anniversary of Armenian Independence
ArmInfo. Areximbank-Gazprombank Group is launching a Gazprombank-Festive deposit on the occasion of the 20th anniversary of Armenian Independence. Areximbank-GPB Group told ArmInfo that the deposits are accepted from individuals from September 15 till October 14.
According to the source, Gazprombank-Festive is an AMD deposit, the minimum amount is 50 thsd AMD, the annual interest rate is 13%, validity period is 366 days, and the interest is paid monthly. The depositors are provided a Maestro card without any annual fee or minimum balance, as well as a credit line worth 90% of the deposit amount (at the interest rate of the deposit +3%).
According to the Ranking of Commercial Banks of Armenia by the Agency of Rating Marketing Information (ArmInfo), as of 1 July 2011, the Bank's share of time deposits in the structure of liabilities was about 25% or 16 bln AMD. The biggest share of time deposits – 72.7% or 11.6 bln AMD - falls on individuals. As compared with the similar period of 2010, the time deposits of the Bank grew by 33%, over the first half of 2011 - by 22%, and over Q2 - by 8.3%. The portfolio of the time deposits of individuals in Areximbank-GPB Group annually increased by 30.3%, over the first half of 2011 - by 19.6%, and over Q2 - by 12.6%. To note, the sole shareholder of the Bank, which has been operating in the Armenian banking market since 1998, is Gazprombank (Russia). As of 1 July 2011, the total capital of the Bank amounted to 15.1 billion AMD, assets – 80.5 billion AMD, provision of crediting – 63.2 billion AMD (exclusive of interbank deposit/credits - 62.9 billion AMD). The Bank completed the first half of 2011 with a net profit of 0.4 billion AMD.
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