Areximbank – Gazprombank Group offers golden standard deposit to clients

13.09.2011 18:59
Areximbank – Gazprombank Group offers golden standard deposit to clients

YEREVAN, September 13. /ARKA/. Areximbank – Gazprombank Group offers a new way for keeping money – Golden Standard deposit, the bank’s press office reported on Friday.

The essence of this offer is that clients can open deposits evaluating their deposited sums in prices for gold.

This would lessen impacts of fluctuations in foreign exchange rates and would give depositors income from rise in prices for gold. Only the price for 999th gold alloy is taken for calculation of value of the deposit.

Payment of the sum and fixed income is guaranteed. Deposits are accepted only in U.S. dollars for 365 or 730 days. The minimum amount of the deposit is $5,000. Interests are paid in a lump sum by the date of expiration of the deposit contract.

Armeximbank – Gazprombank Group started operating in Armenia in1998. The bank is a subsidiary of Russia’s Gazprombank.

The ban’s time deposit portfolio amounted to AMD 16 billion by late June 2011 after growing 22% since the beginning of this year.

Individual time deposits grew 19.6% to AMD 11.6 billion (72.2% of the bank’s time deposit portfolio). -0-


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