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Armenian Parliament Commission for Economic Affairs endorses agreement of Armenia's accession to EEU

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Russian expert: Project of unblocking of Armenia still has all chances to succeed

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Beeline launches NON-STOP service

Russian expert: The US pressure upon Tbilisi hinders opening of the railway to Armenia

Elbat CJSC is planning to increase output by 30% in 2014

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Defense Ministry: Military Honors Funeral to pilots of downed Mi-24 helicopter scheduled for 24 November

Armenia's deputy minister of defense informs Ambassador Kasprzyk of details of latest special operation to recover bodies of Mi-24 helicopter crew

Zdzislaw Raczynski says Poland remains committed to its principles in NK problem, that is, not to arm conflicting parties

System of a Down to perform in Yerevan in 2015

Fundamentally, Armenia may be pro-Russian but it does not mean that it may be pro-Putin, Richard Giragosian says

Ex-defense minister of Armenia: NKR Defense Army brilliantly conducted a risky special operation

Seyran Ohanyan: Parts of Armenian helicopter downed by Azerbaijan to be submitted for examination

Armenia confirms it will participate in Baku 2015 European Games, Patrick Hickey says

OSCE Minsk Group Co-Chairs' Nov 19 statement changed due to Azerbaijan's hysteria

Armenian Defense Ministry hints at big losses in Azerbaijani army due to special operation of NKR Special Forces

Armenia's banks have opportunity to expand their customer base in regions

Armenian Special Forces' actions excite admiration but they do not justify the criminal negligence of Armenian leadership, Artsakh war veteran says

NKR Defense Army Special Forces recover remains of downed Mi-24 helicopter crew

Minister advises Armenian jewelers to hire Indian diamond-cutters to enhance labor efficiency

In 2014 Armenia reduced imports of rough diamonds mostly due to decline in supplies to Russia

Karen Mirzoyan: Karabakh authorities have been taking all the necessary steps for returning of the bodies of the members of MI-24 crew

Every third resident of Armenia is "statistically" poor

Vahe Hakobyan dismissed from the position of the Head of Armenia's Water Management Committee

Ameria Management Advisory enlarges geography of its activities

David Babayan: James Warlick has de facto recognized the presence of a state border between Nagorno-Karabakh and Azerbaijan

MP from Armenian National Congress: Non-power parliamentary forces should be guided by statements of Ruben Hakobyan rather than Raffi Hovannisian

Raffi Hovannisian: Such a short distance between Armenian helicopter and Azeri positions raises numerous questions to Armenian command

Russian professor: Russia's political forces, starting from government officials to opposition, use xenophobic slogans

View from Moscow: Accession to Eurasian Economic Union will not increase number of Armenian citizens migrating to Russia

Expert: Developments in domestic political life of Armenia by no means comply with geopolitical processes in the world

Gyumri Branch of Areximbank-Gazprombank Group intends to lend nearly 600 mln AMD to SMEs by late 2014

  • by Karina Melikyan

  • Friday, July 11, 21:43

The Gyumri Branch of Areximbank- Gazprombank Group intends to lend nearly 600 mln AMD to SMEs and increase its total loan book to 1.270 bln AMD by late 2014. For comparison, Head of the Bank's Gyumri Branch Mnatsakan Dokhoyan pointed out that in 2013 the SME lending portfolio of the Branch was 470 million AMD. Small and medium enterprises are the focus of attention of not only the Gyumri Branch but also Areximbank-Gazprombank Group in general. 

He said that by late 2014 the Gyumri Branch is also planning to increase the number of its card service points to 18. Dokhoyan said that the Branch has already issued 16,300 cards, of which nearly 6,000 are active today. "These are very good indices for the Branch. I would also mention that the Bank has 6 ATMs in Gyumri (with about 120-140 mln AMD monthly turnover), as well as 14 POS terminals", he stressed. 

"The move of the Gyumri Branch into a new office (in 2013) has considerably increased the customer base.  Today our branch has over 10,000 customers, including 9685 individuals, 118 legal entities and 60 private enterprises", he said. "When the Gyumri Branch was launched in 2002, the servicemen of the 102nd Russian Military Base became our prime customers. Since 2003 the Branch has been transferring monetary allowances to the officers and contract soldiers to their plastic cards", he said. 

The customers of the Gyumri Branch of Areximbank-Gazprombank Group are state enterprises, large construction companies, small and medium enterprises, as well as educational institutions. 

As it was previously reported, Areximbank-Gazprombank Group is going to increase its loan book to 98 bln AMD by late 2014. Corporate loans are expected to grow to 80.5 bln AMD and personal loans - to 17.5 bln AMD. In 2014 the Bank is also planning to increase its SME lending portfolio to $31 mln both within the frames of international projects and at the expense of local resources. In 2013 the Bank's lending totaled nearly 92 bln AMD. 
To note, Gazprombank (Russia) is the sole owner of Areximbank-Gazprombank Group. The Bank's capital consists of 316,229 ordinary shares with the nominal value of 52,026 AMD each. As of 1 April 2014, the Bank had 16 branches (7 in Yerevan).

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