YEREVAN, October 19. /ARKA/. Areximbank-Gazprombank Group plans to earn nearly $4 million in profit before tax (PBT)  this year through increasing earning assets, the bank reported to ARKA on Friday.

According to the source, the bank also intends to raise the volume of the  attracted funds by 21% by the end of 2012  from earlier this year.

“Moreover, by the end of this year, the bank plans to increase its total assets by 21.6%, and credit portfolio -by 20.5%,” the report states.

Areximbank-Gazprombank Group CJSC (former Areximbank, renamed on June 12, 2009) was established in August 1998 for supporting entrepreneurship and serving financial flows between Russia and Armenia. Russia’s Gazprombank has been the sole owner of the bank since 2007.

Areximbank – Gazprombank Group is a member of VISA International and MasterCard International payment systems as well as ArCa local payment system. The bank has 16 branches, of them in 9 regions of Armenia, and 7- in Armenia’s capital Yerevan. —0--