Sun, 27 July
28.1 C
Yerevan
USD: 383.94 RUB: 4.85 EUR: 450.25 GEL: 141.78 GBP: 516.63

Areximbank – Gazprombank group’s lending to Armenia’s industry sector reaches AMD 17 billion

YEREVAN, November 15. /ARKA/. Loans extended by Areximbank – Gazprombank Group to Armenia’s industry sector grew by AMD 16.6 billion over nine months of this year and reached more than AMD 17 billion by late September, the bank’s press office reports. In Jan-Sept 2009, Areximbank – Gazprombank Group lent AMD 401.4 million to the industry sector.

According to the report, the bank showed the fastest, 99.99% credit portfolio growth in Armenia’s banking system enlarging it to AMD 42.8 billion (76% of the bank’s assets).

Areximbank-Gazprombank Group (former Areximbank, renamed on June 12, 2009) was established in August 1998 for supporting entrepreneurship and serving financial flows between Russia and Armenia.

The bank is a member of VISA International and MasterCard International payment systems.

In 2007, the bank joined ArCa acquiring.

In November 2007, Russian Gazprombank acquired bought 80% of Areximbank’s shares.

In July 2008, Areximbank issued additional bonds, which were bough by Gaprombank as well.

As a result, Gazprombank’s share in Areximbank reached 94.15%.

In September 2008, Gazprombank bought the remaining 5.85% from Raiffeisenbank and is now the sole owner of the bank. ($1 = AMD 364). -0-

spot_img

POPULAR

Fitch expects inflation in Armenia to remain within the target level until 2027

International rating agency Fitch expects inflation in Armenia to remain within the target level until 2027, although soft fiscal policy and the projected moderate weakening of the dram create certain risks.

Fitch forecasts Armenia to tighten fiscal policy after 2027

Fitch Ratings analysts forecast a tightening of fiscal policy by the republic's authorities in a new report on Armenia.

A scheme for stealing funds through fake investment platforms  exposed in Yerevan

A criminal group operating in one of the capital's business centers and stealing citizens' money through Internet calls has been exposed in Armenia, the Investigative Committee of Armenia reports.

Armenia and EIB sign financial agreement for Resilient Syunik Program worth €50 million

A financial agreement for the Armenia-Sustainable Syunik Program has been signed in Luxembourg by Armenian Minister of Finance Vahe Hovhannisyan and Vice President of the European Investment Bank (EIB) Teresa Czerwińska.

Armenia’s economy to stabilize on 5.5% growth trajectory in 2025 – EDB forecast

According to EDB forecasts, Armenia's economy will stabilize on a 5.5% growth trajectory with domestic demand remaining the main driver of development.

LATEST NEWS

spot_imgspot_imgspot_img