Areximbank-Gazprombank Group CJSC has increased its authorized capital by 25%, or 4.105 bln AMD, the Bank's press service told ArmInfo.
The source says that for the moment the actual authorized capital of the Bank is 16.452 bln AMD. The capital has been increased at the expense of the Bank's sole shareholder - Gazprombank (Russia). As a result, Areximbank-Gazprombank Group has leaped from the top ten to the top five and gained the fifth position in the Armenian banking system in terms of the authorized capital.
The Financial Rating of the Banks of Armenia by the Agency of Rating Marketing Information (ArmInfo) says that as of 30 June 2013, the authorized capital of Areximbank-Gazprombank Group was 12.3 bln AMD. The total capital of the Bank amounted to 17.2 bln AMD, or 13.5% of the total liabilities of the Bank (up 5.8% as compared with the same period of 2012, and up 1.2% over Q2 alone). In the structure of the total capital, the share of accumulated profit was 26%, or 4.5 bln AMD (up 25% versus the same period of 2012, and up 3.3% over Q2 alone). In the first half of 2013, the Bank's net profit was 350.7 mln AMD (down 33.7%).
In Q2 2013, the net profit of the Bank totaled 204.8 mln AMD (up 40.3%). To recall, the previous capitalization of the Bank was in Q4 2009 - by 45.3%.
To note, the sole shareholder of Areximbank-Gazprombank Group is Gazprombank (Russia).