Areximbank – Group of Gasprombank aims to bring its profit before tax to $4.6mln by end of 2013

20.12.2012 13:47
Areximbank – Group of Gasprombank aims to bring its profit before tax to $4.6mln by end of 2013

YEREVAN, December 20. /ARKA/. Areximbank – Group of Gasprombank closed joint stock company intends to increase its profits before tax up to $4.6mln by the end of 2013, the bank’s press service told ARKA Agency.

According to the report, the bank is planning to increase funds attracted up to 114.3bln drams by the end of 2013; total assets are expected to grow up to 137.9bln drams and loan portfolio may reach 105.2bln drams.

Increased earning assets will enable the bank gaining a profit before tax of about $4.6mln, provided that return on assets and equity is within the average range, says the report.

According to the report, the company will augment its funds attracted by 21.0% by the end of this year, as compared to the beginning of the year.

Total assets are expected to grow by 21.6% and loan portfolio by 20.5% by the end 2012.

Increased earning assets will bring the profit before tax up to about $4.0mln by the end of the year.

Areximbank-Gazprombank Group closed joint-stock company was founded in 1998 to support entrepreneurs and to handle financial flows between Russia and Armenia. The bank is fully owned by Russian Gazprombank.–0--


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