Areximbank – Gazprombank Group intends to build up its loan portfolio to AMD 98 billion this year

Areximbank – Gazprombank Group intends to build up its loan portfolio to AMD 98 billion this year

YEREVAN, May 19. /ARKA/. Areximbank – Gazprombank Group intends to build up its loan portfolio to AMD 98 billion this year, Vigen Barseghyan, deputy CEO of the bank, said in an interview with ARKA News Agency.  

He said the lending to corporate clients is expected to reach AMD 80.5 billion and that to individuals will increase to AMD 17.5 billion. 

«The loan portfolio is planned to be built up thanks to international programs and also from the domestic market's resources,» he said. 

Barseghyan said the share of lending to small and medium businesses in the bank's loan portfolio will be growing constantly. 

In his words, SME lending amounted to $21 million and made up 10% of the Areximbank – Gazprombank Group's loan portfolio in 2013, while now the bank is planning to lend another $10 million to this segment. 

He also said that Areximbank – Gazprombank Group will be the first bank in Armenia to issue VISA and MasterCard payment systems' payWave and PayPass proximity cards.  

The bank took the first steps in this direction in the beginning of this year – on February 27, it, jointly with VISA, carried out the first proximity operation with using Visa payWave technology. 
«By the beginning of this year's summer, the bank will start installing payment terminals at various trade points that will also accept Visa payWave cards, and at this very time the bank will start issuing Visa payWave cards», Barseghyan said in his interview. 

He said the bank expects to earn AMD 1.7 billion in profits in 2014 and to have liabilities totaling AMD 142 billion and assets amounting to AMD 164 billion by the end of this year. Its total capital is believed to reach AMD 22 billion. 

The deputy CEO said that the bank will take particular measures to develop its branches and will also continue efforts to strengthen its image as part of corporate social responsibility programs as well as work on online and offline promotion. 

Areximbank – Gazprombank Group also intends to work out new deposit and credit products, to issue co-branding payment cards for various groups of clients, to connect to new money transfer systems and to come up with new offers to enhance its clients' loyalty and attract new clients. 

«In 2014 Areximbank – Gazprombank Group will remain steadfast in fulfilling Development Strategy objectives, such as development of the bank as a universal financial establishment, enhancement of its activity's effectiveness as well as maintenance of its good reputation and functional stability,» Berseghyan said. 

Areximbank – Gazprombank Group CJSC was established in 1998. The bank is a subsidiary of Russia’s Gazprombank OJSC. 

The bank’s assts totaled AMD 170.8 billion and liabilities AMD 149.2 billion in early April 2014. Its loan portfolio amounted to AMD 89.9 billion and capital AMD 21.6 billion. Areximbank – Gazprombank Group’s 1st Q 2014 profit amounted to AMD 289 million – by AMD 143.1 million or 98% more than it gained in the same quarter a year before. 
The bank has 16 branches, of which seven in Yerevan and nine in provinces. ($1- AMD 413. 83). -0---- 

19:04 19.05.2014

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