YEREVAN, January 27. /ARKA/. Areximbank – Gazprombank Group CJSC’s net profit grew five times in 2010, compared with 2009, to AMD 1.0 billon, Yelena Markova, the press secretary of the bank reported on Thursday.

“Interest and commission proceeds were the key sources of the profit,” she said. “The bank’s assets grew by 72.8% over 2010 reaching AMD 67.4 billion by January 1, 2011.”

Markova said that the bank built up its loan portfolio 130.8% to AMD 49.4 billion.

Areximbank – Gazprombank Group was reckoned among leading banks for its fast growth.

Areximbank-Gazprombank Group (formerly 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.  -0-