YEREVAN, February 24. /ARKA/. The Russian-owned Areximbank-Gazprombank Group plans to increase its loan portfolio by 24.1% this year ($48.6 million) to 92.5 billion drams, the bank’s press service said in a press release today. According to it, Areximbank-Gazprombank Group will be pursuing a fairly conservative lending policy.

It said the lending to corporate customers is planned to be increased by 14.8% to $185.4 million and the lending to individuals is to grow by 68.5% to $64.7 million. According to the press release, to this end  the bank will attract resources from international and local institutions and raise its authorized capital.

On December 31, 2011 its outstanding credit portfolio stood at over 74.5 billion drams, having increased by 52% over the same period in 2010.

Areximbank-Gazprombank Group (formerly Areximbank) was established in 1998 to handle financial flows between Armenia and Russia. It is a principled member of VISA International and MasterCard International payment systems. In 2007 it joined Armenian ArCa payment system. The bank is owned fully by Russian Gazprombank. ($1- 389.34 drams).  -0-