YEREVAN, February 15, /ARKA/. Armenian Areximbank-Gazprombank Group said it plans to provide about 3 billion Drams in loans this year by means of plastic cards.
In a press release the Russian-owned bank said its expects its outstanding credit portfolio to grow in 2011 to 73.5 billion Drams. It also plans to increase the amount of loans extended through plastic cards by one billion Drams to three billion Drams.
As of late 2010 the bank’s outstanding credit portfolio stood at 50 billion Drams. Five percent of it or 2 billion Drams were loans provided through plastic cards. The number of plastic cards issued by the bank in 2010 increased by 30.6% to 75, 315 as the volume of operations by plastic cards grew by 45,75%.
Areximbank-Gazprombank Group (formerly Areximbank) was established in 1998 to handle financial flows between Armenia and Russia. It is a principled member of VISA International and MasterCard International payment systems. In 2007 it joined Armenian ArCa payment system. The bank is owned fully by Russian Gazprombank and has 6 branches in Yerevan and 9 in regions. The bank operates 44 ATMs and 128 POS terminals. -0-
