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Sharmazanov: In today's interview Gagik Tsarukyan repeated its speech at Oct 24 rally but in an easily defined form

Nikolay Ryzhkov: Nagorno-Karabakh may join EAEU after its final status is determined

Prices for meat products may grow in Armenia

Ardshininvestbank reopens its new and reconstructed Shengavit Branch

Prosperous Armenia Party has not yet determined its position regarding Armenia's joining Eurasian Economic Union

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Azerbaijani diversionists blame their liquidated comrade Hasan Hasanov for murdering Karabakh civilian

Armen Gevorgyan appointed Head of IDeA Foundation

ArmSwissbank and Management Mix intend to set up an investment management company

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New garbage dump to be opened in Yerevan

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Beeline and Edward Mirzoyan String Quartet announce extension of their cooperation.

Air Armenia suspends passenger operations

Head of Armenian CEC unaware of opposition's plans to organize snap parliamentary elections

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British and German Ambassadors hope Ankara will make a step towards normalization of relations with Armenia in future

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Analyst: There are no idiots in Russia today

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"Beeline Child Development Centers" opened in Ararat region of Armenia

Monitoring Report on the Agreement between EU and Armenia on Facilitation of Issuance of Visas presented in Yerevan

VivaCell-MTS implements the 6th draw "365"

Eduard Sharmazanov: It is impossible to speak of compromises if Baku rattles the sabre

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Special Investigation Service of Armenia initiates criminal case regarding incident that occurred to ASALA veteran

Results of Sargsyan-Aliyev Paris meeting summed up

VTB Bank (Armenia) - the leader by the credit investments according to the results of the 3Q 2014

Cemal Pasa's grandson advocates eliminating nationalism and taboo on the term "genocide" in Turkey

Daughter of Yunus appeals to the French president

Plane flying from Tehran to Yerevan makes an emergency landing

Azeri raider Shahbaz Guliyev gives details of murder of Armenian youth

The Chkalov village community has started the construction of the water supply network

Ashot Manucharyan: It is very much dangerous and senseless to lead Russia to war readiness

Armenian-French high-level talks in Paris are over

Sargsyan-Aliyev meeting kicks off in Paris

Speaker of Armenian Parliament: Executors of Oct 27 1999 terrorist act in Armenian Parliament are known but their guiders are not

Closure and conservation of illegal artesian wells in Ararat Valley will help saving over 360 million cu m of water annually

Turkey is seeking to include Armenian town of Ani into UNESCO World Heritage List

Haaretz: The sale of weapons to Azerbaijani government is like the sale of weapons to Nazi Germany during World War II

Schedule of meeting of Armenian, French and Azerbaijani presidents in Paris made public

Trial of Azerbaijani diversionists commences in Stepanakert

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Ashot Manucharyan: It is very much dangerous and senseless to lead Russia to war readiness

Tigran Khzmalyan: Armenia has linked its Noah's Arc to Russia's sinking Titanik that is still selling tickets

Alexander Iskandaryan: Peace and war are the two things Russia does not need in the South Caucasus

Ariel Cohen: Putin may be compensating for reputational damage to Russia in the conflict in Ukraine by trying to resolve the Karabakh conflict

Hovhannes Igityan: Serzh Sargsyan’s geopolitical choice is an obstacle for investments in Armenia’s economy

Andrey Areshev: Russia wants to see Armenia as its strong and dynamically developing ally in the South Caucasus

Vahan Vardapetyan: October 10 will become the day of culmination of consolidation of the society around the Armenian centrist parties

Manvel Sargsyan: The myth of Russia's importance for Armenia is based on the formula "We will defend you"

Thomas De Waal: The society and power in Armenia and Azerbaijan are strongly linked by a vicious circle

Ukraine’s Ambassador to Armenia: The next phase of development of the Ukraine-EU relations may be only Ukraine's EU membership

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Giorgi Gvimradze: Russia's fate hangs in the balance in Ukraine

In NK peace, it is necessary to pay attention to other processes in Scotland and Catalonia

Armenia’s ex Defense Minister: We have enough options to advance to the north of Azerbaijan

Areximbank-Gazprombank Group's profit increases by 56.1% and capital grows to 21.9 bln AMD

  • by Erik Abrahamyan

  • Monday, July 21, 17:46

 In the first half of 2014, Areximbank-Gazprombank Group's net profit totaled 547.6 mln AMD (up 56.1% versus Jan-June 2013). The press service of the Bank has told ArmInfo that this financial achievement increased the Bank's total capital by 2.6% to 21.9 bln AMD in Jan- June 2014. 

The source says that as of 1 July 2014, the Bank's assets amounted to 146.5 bln AMD. In the structure of the assets, the share of lending made up 56.4% or 82.6 bln AMD, including over 68 bln AMD in corporate loans and 14.6 bln AMD in personal loans. 

According to the Express Ranking of Armenian Banks prepared by the Agency of Rating Marketing Information (ArmInfo), Areximbank-Gazprombank Group is ranked 8th in the banking sector of Armenia in terms of assets and total capital, and it is ranked 9th in terms of lending. The Bank's total capital increased by 27.3% over the year due to the tangible growth in profit and 33.2% increase in the authorized fund). In July 2013 the Bank's authorized capital was raised by 4.105 bln AMD to 16.452 bln AMD at the expense of the sole shareholder - Gazprombank (Russia). 

The Bank is ranked 6th in terms of authorized capital. In Q2 2014 alone, the net profit of Areximbank- Gazprombank Group amounted to 258.6 mln AMD (up 26.3% versus Q2 2013). The Bank reduced spending by 1.8% and increased revenues by 1.9%, which resulted in 54.3% rise in the pretax profit. The share of interest income makes up over 77%, with the share of non-interest expenditure being more than 41%. The Bank is ranked 11th in terms of revenues and 10th in terms in spending. On 30 June 2014 the AMD/USD exchange rate was 407.28 AMD/$1.

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

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