YEREVAN, November 29. /ARKA/. Areximbank – Gazprombank Group intends to open four new offices in Yerevan and provinces in 2011, the bank’s press office reported on Monday.

“Areximbank – Gazprombank Group CJSC pays great attention to development of its branch network, actively expanding the area of its presence in Armenia’s capital and provinces,” the bank said in its press release.

The necessity of new offices was prompted by the bank’s intention to provide higher-quality services to its clients, including large corporate clients, to provide more comfortable conditions to them and to enhance effectiveness of the bank’s activity.

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 CJSC has 15 branches, of which six are in Yerevan. –0--