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Venice Commission experts make remarks about new proposals on Electoral Code of Armenia

Arsen Khojoyan, who was taken captive in Azerbaijan, kills a 17-year-old girl in Armenia

Pope Francis holding his first Mass in Gyumri, Armenia

OSCE MG urges Azerbaijan and Armenia to remove all remaining obstacles to expanding OSCE CiO Personal Representative's mission

Pope Francis and Catholicos of All Armenians arrive in Gyumri

Pope Francis visits Tsitsernakaberd Memorial dedicated to Armenian Genocide victims

Monument to Grigor Narekatsi to be erected in Vatican, Director of Holy See Press Office Federico Lombardi says

OSCE CiO Frank-Walter Steinmeier is expected to travel to South Caucasus

President Serzh Sargsyan and His Holiness Pope Francis had private meeting

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Charge pressed against commander of serviceman driven to suicide

Souvenir sheet and mini-sheet with four stamps dedicated to visit of Pope Francis to Armenia put into circulation

Zurabishvili: Ankara has always supported Tbilisi's aspirations including integration into NATO

Naira Zohrabyan: It is necessary to suppress Turkish fascism

Nino Burjanadze: It is absolutely unfavorable for Georgia to join NATO now

Situation around Nagorno-Karabakh is rather vulnerable, Ambassador Piotr Switalski says

Pope Francis arrives in Armenia

Central Valley Congressmen urge US to follow Pontiff's lead in reaffirming Armenian Genocide

Electricity price in Armenia to be reduced by 2.58 drams on Aug 1 2016

Eduard Sharmazanov sees generally positive tendency in Karabakh peace process

France-based committee for political prisoners in Armenia addresses Pope Francis over Zhirayr Sefilyan's detention

Vice Speaker of Armenian Parliament says Moscow reacted very strongly to Baku's attempt to distort situation around Karabakh

Senior advisor on Iran at the U.S. State Department says Armenia contributed to Iran's recent nuclear deal with the West

Nino Burjanadze sees no prerequisites for Saakashvili to return to power in Georgia

Armenian oppositionist MPs from Armenian National Congress Party visit Zhirayr Sefilyan at penitentiary

Russian Foreign Ministry against Azerbaijan's interpretations of results of St. Petersburg meeting

Tevan Poghosyan: Serzh Sargsyan left for Artsakh after Petersburg meeting in order to deliver "new information"

Nikol Pashinyan lodges a parliamentary request to Special Investigative Service and Police over Samvel Alexanyan case

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Heritage Party recruits volunteers as members of electoral commissions and observers

PACE adopts resolution condemning situation with functioning of democratic institutions in Turkey

As many as 383 cars to be sold via auction

Stratfor: Russia's apparent objective is to shape Nagorno-Karabakh into a manageable crisis

Czech President Milos Zeman recommends that lawmakers discuss resolution denouncing Armenian genocide in Ottoman Turkey

ANCA: Pope's Visit to Armenian Genocide Memorial an Open Challenge to Turkey's Campaign of Denial

Pope Francis and President Serzh Sargsyan to make a joint statement in Yerevan

Pope Francis makes message ahead of his landmark visit to Armenia on June 24

Zhirayr Sefilyan arrested for two months

Armenia to officially apply to Pope Francis requesting to open Vatican's archives on Armenian Genocide

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SCR CJSC urges to verify information and avoid unfounded allegations

Investigative Committee: Zhirayr Sefilyan faces charges under Article 235.2 of Armenian Criminal Code

Expert: Russia as a mediator succeeded in Nagorno-Karabakh conflict

Human rights activist: Sefilyan case is an act of political persecution

Some Beeline ADSL subscribers to have different Internet payment numbers

Chatham House: A full-blown renewal of the Nagorno-Karabakh conflict would jeopardize Russia's position in Azerbaijan and Turkey

David Babayan: Measures to create confidence-building mechanisms and atmosphere promoting peace talks launched

Russian Embassy in Armenia provided with radio frequency

Former US co-chair of OSCE Minsk Group thinks St. Petersburg meeting appears to have moved Karabakh conflict parties to safer and more stable situation

Expert: Meeting in St. Petersburg has brought Karabakh conflict to a new stage of "freezing"

Regional

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

  • by Erik Abrahamyan

  • Monday, July 21, 22:46

 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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