Thursday, January 31 2013 19:48

Areximbank-GPB Group registers growth of key figures for 2012


ArmInfo. Areximbank-Gazprombank Group raised net profit by 20.8% for 2012 to 1.244 bln drams (12th position in the banking system of Armenia). The profits grew mainly as net interest incomes grew by 390 mln drams for the year under review, the bank's press-service told ArmInfo. The financial result for 2012 make it possible for the bank to increase the total capital by 7.9% versus 2011 to 16.956 bln drams (11th position).

The source reports that Areximbank-GPB Group's assets for Jan 1 2013 totaled 123.4 bln drams (8th position) with a 28.7% growth for 2012. The loan portfolio of the bank grew 22.9% to 91.8 bln drams (7th position). The corporate loan portfolio grew 23.3% to 76.4 bln drams (7th position), while personal loan portfolio grew 21.1% tp 15.3 bln drams (11th position). The funds raised from customers last year grew 19.4% to 39.1 bln drams, with funds of individuals growing 54.8% to 28.2 bln drams. The bank's activity for 2012 allowed improving also ROE.

Gazprombank OJSC (Russia) acquired 80% shares of Armenian Areximbank in Nov 2007. In July 2008 Gazprombank's share in the bank grew to 94.15% and in September 2008 Gazprombank bought the remaining 5.85% shares of Raiffaisenbank becoming the sole owner of Areximbank-GPB Group CJSC.
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