Newsfeed

ACBA-CREDIT AGRICOLE BANK announces results of draw among Visa Student cardholders and student loan borrowers

INECOBANK receives first US$5mn tranche from EBRD to finance renewable energy and SME

Banks buy $1.7 million out of $4 million offered by Central Bank on 20 December

Beeline and Technology Development Center present App Armenia system and mobile application

Vigen Barseghyan appointed as Acting Director General of Areximbank-GPB Group

Vallex Group launches mining at Teghout copper-molybdenum deposit

Anelik Bank faces no problems with liquidity amid national dram hyper-devaluation due to financial support Credit Bank S.A.L.

On 20 December ACBA-CREDIT AGRICOLE BANK to hold annual prize draw ahead of the New Year among Visa Student cardholders and raffled off tuition fees

Expert: In 2015 the situation over Nagorno-Karabakh will not be better than in 2014

Nagorno-Karabakh PM: Question whether there should be a customs point on Armenian-NKR border is no longer on agenda

Expert: AMD's depreciation will not prevent Armenian Government from fulfilling next year's budget

House of Representatives of Belarus ratifies agreement on Armenia's accession to Eurasian Economic Union

Prosecutor insists on life and 22-year terms for Azeri raiders

Open Days at Yerevan Brandy Company

John Heffern says Armenia has not received invitation by Millennium Challenge Corporation this year

John Heffern: The USA wants to go on stimulating reconciliation of the Armenian and Turkish peoples

ARFD: The Turkish-Azerbaijani tandem has sharply activated at the world arena

John Heffern: Agreement on Vorotan Cascade of HPPs to be signed shortly

Kazakhstan Senate ratifies treaty on Armenia's accession to EEU

Drivers of public mini-van go on being on strike because of raising fuel price

Armenian PM: There will be no more shocks on financial market

Armenia's Central Bank tries to sell $4mln but nobody buys it

Beeline to complete digitization of the network in Metsavan, Norashen and Kuchak communities

European Union launches 15 new projects in Armenia

Inga Zarafyan: Mining industry has leading positions in terms of environmental damage

Hovik Abrahamyan familiarizes himself with prices at Armenian supermarkets

Rostelecom expands network of acceptance of payments through banks

Baby born with parasitic twin fetus in Armenia

Parliament of Kazakhstan ratifies treaty on Armenia's accession to EEU

Public transport drivers in Nor-Nork District in Yerevan block road to city center

Artur Javadyan: Armenia's Central Bank is not planning prescheduled revision of its refinancing rate

Armenia's CB: AMD's hyper-depreciation has been caused by panic and speculations

Small business in Armenia to be red-listed

EBRD supports Armenia's Shen Holding with US$ 9.3 million loan

Nikol Pashinyan: It is necessary to teach some MPs from the ruling party to differentiate between the Parliament and a horse stable

VTB Bank (Armenia) and MasterCard launch a joint bonus campaign for MasterCard holders

14 more Beeline offices to be equipped with e-queue systems

Cigaronne SPS enlarges its export geography

Armenia hosted the international The Hour of Code event for the first time

Armenian National Congress and Prosperous Armenia Party not to support statement condemning attack on Aram Manukyan

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).

Send to a friend

To (e-mail)


Your name


Message


Comments

View comments (0)
  • READ ALL COMMENTS
  • POST A COMMENT

Be first to comment on this article

* Indicates required fields