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Friday, November 16, 2018

Areximbank first quarter report shows net profit

Aremixbank-Gazprombank Group released financial results for the first quarter of this year on Monday.
The bank said it had a net profit of approximately $326,541 for the first quarter. The bank said assets totaled approximated $223.4 million with liabilities set at approximately $170.2 million.

The bank said it decided to increase its capital by approximately $20 million and its shareholding group, Gazprombank, added an additional $34.34 million in authorized capital. This was an increase of 60.1 percent. With this increase in capital, the bank has taken second place nationwide within the Armenian Banking system.
The bank's loaning portfolio consisted of approximately $140.7 million, with corporate loans amounting to approximately $114.5 million and approximately $26 million being lent to individuals.
Deposits in the bank amounted to $83.9 million, with a majority of these funds, approximately $63 million, belonging to individuals and approximately $20.8 million belonging to businesses and other legal entities.
Areximbank is wholly owned by Gazprombank.