Areximbank-Gazprombank Group’s authorized capital built up to AMD 12 347.3 million

YEREVAN, December 29. /ARKA/. Areximbank-Gazprombank Group CJSC has built up its authorized capital by AMD 3 850 million to AMD 12 347.3 million, the CJSC’s press office reported on Tuesday.

This decision was made by Gazprombank, the sole shareholder of Areximbank-Gazprombank Group.

Gazprombank is among Russia’s three largest banks and ranks fifth among East and Central Europe’s banks.

Areximbank-Gazprombank Group (former Areximbank, renamed on June 12, 2009) was established in August 1998 for supporting entrepreneurship and serving financial flows between Russia and Armenia.

The bank is a member of VISA International and MasterCard International payment systems.

In 2007, the bank joined ArCa acquiring.

In November 2007, Russian Gazprombank acquired bought 80% of Areximbank’s shares.

In July 2008, Areximbank issued additional bonds, which were bough by Gaprombank as well.

As a result, Gazprombank’s share in Areximbank reached 94.15%.

In September 2008, Gazprombank bought the remaining 5.85% from Raiffeisenbank and is now the sole owner of the bank.

Areximbank-Gazprombank Group’s assets totaled AMD 32.1 billion and liabilities AMD 22 billion by September 30, 2009.

The bank’s total capital amounted to AMD 10.1 billion and authorized capital AMD 8.5 billion by late September.

Credit investments totaled AMD 20.1 billion and liabilities to clients AMD 19.2 billion.

The bank’s net profit for Jan-Sept 2009 amounted to AMD 151.8 million.

The bank has 15 branches, of which six in Yerevan and nine in provinces. ($1= AMD 377.32). -0--