Areximbank-GPB Group to be issuing Lombard loans on preferential terms until June 30
ArmInfo. Areximbank - Gazprombank Group will be offering gold- secured Lombard loans on preferential terms until June 30 2016, the Bank's press-office told ArmInfo. The loan maturity is 3-6 months. In case of full prepayment of the interests, the one-time payment for the issue is not charged.
According to the Ranking of Armenian Banks prepared by ArmInfo, the Lombard loans accounted for 4.3% or 3.1bln drams of the total loan book of Areximbank-GPB Group on Jan 1 2016, with a 17.2% year- on-year growth. In the retail loan portfolio of the Bank, the Lombard
loans accounted for more than 25%.
In November 2007 "Gazprombank" OJSC acquired 80% of Areximbank's shares. In July 2008, Gazprombank's stake rose to 94.15%, and in September 2008 Gazprombank acquired the remaining 5.85% stake from Raiffeisen Bank and became the sole owner of Areximbank- Gazprombank Group.