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Armenian Foreign Minster says Baku seeks to fail the Karabakh negotiations with its efforts to change their format

Exposition of "Open Game" Championship of Computer and Mobile Games to take place on the 26th of October

French parliamentarian Valerie Boyer introduces new bill criminalizing genocide denial

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In Jan-Sept 2014 Areximbank-Gazprombank Group registered 63% growth in foreign exchange transfers through SWIFT

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Gagik Tsarukyan says his Party may demand power change

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Opposition four parties marching along Yerevan streets

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Aram Manukyan: Armenian people seeks to govern the country

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NASDAQ OMX Armenia provides ArmSwissBank with a status of market maker of National Mortgage Company's bonds

Chief of Russia's Federal Customs Service: Russia is not going to interfere in customs activities on Armenian-Nagorno-Karabakh border

Sharmazanov: Nobody, even if he wants very much, can name at least one fact which is evidence of incapability of the Armenian authorities

Oppositionist: Opposition's task during its rallies is to make best of people's resolution to change ruling regime

A member of the parliament from ARFD wishes success to the opposition three

RPA member: The opposition three is unpredictable

VivaCell-MTS has invested 55 million AMD for the housing project in the borderland villages of Armenia and Fuller Center for Housing Armenia has undertaken the implementation of the project

Head of Russian Federal Customs Service: Russia does not intend to interfere in customs officers' activities on border between Armenia and Karabakh

Serzh Sargsyan's message to Washington: We believe that the whole of mankind should be consistent in the recognition, condemnation and exclusion of denialism of genocides

CJSC Armenian Copper Programme reduces blister copper production 9,8% for nine months of 2014

Ex-governor of Vayots Dzor, Edgar Ghazaryan - an ambassador to Poland

Sargsyan-Aliyev-Hollande meeting to take place on 27 October

Serzh Sargsyan: Germany is Armenia's vital partner and a friendly country

Edward Sharmazanov: The breakthrough in the Karabakh process depends on the position of Baku

OSCE MG Co-chairs share expectations from upcoming meeting of Azerbaijani and Armenian Presidents in Paris

Former premier of Armenia calls on the government to change methodology of GDP calculation

Parliament member: A draft law has been submitted to the parliament that has nothing in common with residents of the bordering communities

Expert: Deposits with radioactive elements in a scattered state are being developed in Armenia

Parliamentarian: On 2 Jan 2015, Armenia will find itself in quite new economic environment, something that Government is absolutely not ready for

Governor of Armenia's Vayots Dzor Region relieved of his duties upon his own request

Environmentalists to protest against shooting of wolves

Armenian MP: Armenia has crossed the red line of economic security

"Grozniy-Avia" airline to launch Simferopol-Yerevan flight

Beeline launches "Unlimited Internet Super" service

ACBA-CREDIT AGRICOLE BANK opens new branch in Yerevan

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

Irina Kamkhadze: We see no downward tendency of Visa growth rates in Armenian market

VTB Bank (Armenia) Visa cardholder becomes winner of Summer with VTB campaign and gets a vacation package to Malta for two persons

Delegation of IFC and EBRD visits Amulsar Gold Project site

Oppositionist: The case with ASALA veteran demonstrates state terrorism in Armenia

Armenia's Health Care Ministry organizes a training course to assess local doctors' readiness for Ebola

Naira Zohrabyan: There is no sector in Armenia where human rights are not breached

Speaker of the Armenian parliament agrees to the idea that there are numerous unsettled conceptual problems in the republic

Gabor Brodi: Armenia must not choose between European Union and its neighbors in the region

A delegation of South Caucasus Railway to attend 61st meeting of CIS Rail Transport Council in Baku

Georgian Ambassador: Armenia and Georgia are facing problems in their trade relations

ACBA-Credit Agricole Bank sums up CASHBACK QUEST results

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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