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

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Yerevan: Murderer Ramil Safarov is Azerbaijan's symbol

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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