Areximbank-Gazprombank Group’s profit rises by 98% to 289mln drams in Q1

Areximbank-Gazprombank Group’s profit rises by 98% to 289mln drams in Q1

YEREVAN, April 22. /ARKA/. Net profit of Areximbank-Gazprombank Group amounted to 289 million drams in the first quarter of 2014, an increase of 143.1mln drams or 98% against the same period of the year before, the bank’s press office reported.

This enabled the bank increasing its capital by 1.4% to 21,618.6 million drams, according to the report.

The bank’s assets totaled 170,830.6 million drams as of April 1, 2014. Loans to legal entities and individuals amounted to 89,955.9 million drams. Lending to corporate clients alone was 74,370.0mln and loans to individuals were 15,585.9mln drams.

Funds attracted from clients totaled 104,143.1 million drams, including 69,123.2mln from legal entities and 35,019.9 million drams from individuals.

The bank’s return on equity rose by 5.42% in the first quarter as compared to 3.49% in Q1 2013, according to the report.

Areximbank - Gazprombank Group was founded in 1998 to handle financial flows between Russia and Armenia. It is now owned by Russian Gazprombank. Bank successfully certified for compliance with international requirements of ISO 9001: 2008. It runs 16 branches, 7 of which are located in Yerevan and 9 in the regions. ($1=414.06drams). –0--

13:24 22.04.2014

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