YEREVAN, October 22. /ARKA/. Areximbank-Gazprombank group said it intends to increase its credit portfolio ( including lines of credit) up to 90 billion drams by 2012’s out, ensuring the annual growth of this index at over 20.5% benchmark.

“As of 1 October 2012 the total volume of the loans allocated by the bank (including lines of credit) rose by 18.3% in 9 months to 88.4 billion drams (78.7% of the total assets),” the report says.

The banks’ total assets climbed by 17.1% to 112.3 billion drams as of 1 October. Areximbank-Gazprombank Group was established in 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. The bank has successfully passed ISO 9001: 2008 certification on compliance with international requirements. The bank has 16 branches, including those in 9 regions of Armenia.

Seven branches are located in Armenia’s capital Yerevan.—0-