Thursday, January 22 2015 14:29

Gazprombank of Russia increases the authorized capital of its Armenian subsidiary by $20mln


ArmInfo. Gazprombank of Russia has increased the authorized capital of its Armenian subsidiary, Areximbank-Gazprombank Group, by 9.4bln AMD or $20mln to 25.9bln AMD.

The press service of the bank reports that for this purpose the owner issued additional shares.

According to Areximbank-Gazprombank Group, as of Jan 1 2015 its capital made up 15.7bln AMD (25% drop as compared with Jan 1 2014), authorized capital 16.4bln AMD, assets 110.7bln AMD (2.1-time drop), liabilities 95.1bln AMD (2.2-time drop), loans 69.1bln AMD (25.5% drop), net profit 5.7bln AMD (against 108.7mln AMD in 2013).

Areximbank-Gazprombank Group was founded in 1998. Gazprombank (Russia) has been its sole shareholder since 2007.

Starting from Jan 1 2017 the CB's requirement for minimum capital will be 30bln AMD against 5bln AMD today.
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