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GAZPROMBANK INVESTS NEARLY 200 MLN USD IN ARMENIA'S ECONOMY THROUGH ITS ARMENIAN SUBSIDIARY AREXIMBANK
by Karina Manukyan
ARMINFO
Thursday, October 17, 17:37
Gazprombank has rather serious plans on business development
in Armenia, and for the moment it has invested nearly 200
mln USD in Armenia's economy through its Armenian subsidiary
Areximbank-Gazprombank Group, Viktor Korendyuk, First Vice President
of Gazprombank, member of the Council of Areximbank-Gazprombank Group,
said on the occasion of the 15th anniversary of Areximbank-GPB Group.
The press service of the Bank has told ArmInfo that Korendyuk also
stressed Gazprombank's other interesting projects on further business
development in Armenia. "We feel quite stable in Armenia; therefore
we will continue successfully developing our Armenian subsidiary",
he said.
Armen Khandkaryan, Director General of Areximbank-Gazprombank
Group, stressed that throughout the period of its activity the Bank
has conducted a balanced and conservative policy. It has a clear
development strategy and is constantly improving its professional
skills. He added that by the growth rates of its basic indices the
Bank holds one of the leading positions. "Over the past few years
the quantitative indices of the Bank have undergone considerable
qualitative changes: the total assets have risen almost 4-fold, lending
- 5-fold, the authorized capital has doubled. The latest replenishment
of the authorized capital by $10 mln was carried out by Gazprombank
OJSC in July 2013. We do our best to justify the confidence in the
Bank and to become the best bank on the market in terms of not only
quantity but also quality of services", said Khandkaryan.
The Financial Rating of Armenian Banks by the Agency of Rating
Marketing Information (ArmInfo) says that as of 1 October 2013 the
assets of Areximbank-Gazprombank Group amounted to 157.6 bln AMD
(40.3% y-o-y growth). The total capital made up 21.4 bln AMD (up 29.1%
as compared with the same period of 2012). The total liabilities grew
by 42.3% 136.2 bln AMD, and the net profit totaled 413 mln AMD. In Q3
2013 Gazprombank provided its Armenian subsidiary with a subordinated
loan worth 4.1 bln AMD, and the authorized fund of the Bank grew from
12.347 bln AMD (in early 2013) to 16.452 bln AMD by 1 Oct 2013 and
increased the total capital from 16.833 bln AMD to 21.351 bln AMD. As
of 1 Oct 2013, the Bank's lending totaled 98.8 bln AMD.
To note, in November 2007 Gazprombank OJSC acquired 80% of Areximbank's
shares. In July 2008 Gazprombank's stake rose to 94.15%.
In September 2008 Gazprombank bought out the remaining 5.85% from
Raiffeisenbank and became the sole owner of Areximbank-Gazprombank
Group.
by Karina Manukyan
ARMINFO
Thursday, October 17, 17:37
Gazprombank has rather serious plans on business development
in Armenia, and for the moment it has invested nearly 200
mln USD in Armenia's economy through its Armenian subsidiary
Areximbank-Gazprombank Group, Viktor Korendyuk, First Vice President
of Gazprombank, member of the Council of Areximbank-Gazprombank Group,
said on the occasion of the 15th anniversary of Areximbank-GPB Group.
The press service of the Bank has told ArmInfo that Korendyuk also
stressed Gazprombank's other interesting projects on further business
development in Armenia. "We feel quite stable in Armenia; therefore
we will continue successfully developing our Armenian subsidiary",
he said.
Armen Khandkaryan, Director General of Areximbank-Gazprombank
Group, stressed that throughout the period of its activity the Bank
has conducted a balanced and conservative policy. It has a clear
development strategy and is constantly improving its professional
skills. He added that by the growth rates of its basic indices the
Bank holds one of the leading positions. "Over the past few years
the quantitative indices of the Bank have undergone considerable
qualitative changes: the total assets have risen almost 4-fold, lending
- 5-fold, the authorized capital has doubled. The latest replenishment
of the authorized capital by $10 mln was carried out by Gazprombank
OJSC in July 2013. We do our best to justify the confidence in the
Bank and to become the best bank on the market in terms of not only
quantity but also quality of services", said Khandkaryan.
The Financial Rating of Armenian Banks by the Agency of Rating
Marketing Information (ArmInfo) says that as of 1 October 2013 the
assets of Areximbank-Gazprombank Group amounted to 157.6 bln AMD
(40.3% y-o-y growth). The total capital made up 21.4 bln AMD (up 29.1%
as compared with the same period of 2012). The total liabilities grew
by 42.3% 136.2 bln AMD, and the net profit totaled 413 mln AMD. In Q3
2013 Gazprombank provided its Armenian subsidiary with a subordinated
loan worth 4.1 bln AMD, and the authorized fund of the Bank grew from
12.347 bln AMD (in early 2013) to 16.452 bln AMD by 1 Oct 2013 and
increased the total capital from 16.833 bln AMD to 21.351 bln AMD. As
of 1 Oct 2013, the Bank's lending totaled 98.8 bln AMD.
To note, in November 2007 Gazprombank OJSC acquired 80% of Areximbank's
shares. In July 2008 Gazprombank's stake rose to 94.15%.
In September 2008 Gazprombank bought out the remaining 5.85% from
Raiffeisenbank and became the sole owner of Areximbank-Gazprombank
Group.