Yerevan, December 3 /Mediamax/. Russian “Gazprombank” gained approval of the Central Bank of Armenia and purchased 80.09% shares of “Areximbank” CJSC.

Mediamax reports that the sum of the deal is not disclosed.

The press service of “Gazprombank” noted that the decision on acquisition of “Areximbank” “is conditioned by the growing trade turnover between the two countries, the growth of investments of Russian companies into the Armenian economy, corporate customers’ need of complex banking maintenance, as well as the need of funding of “Gazprom” OJSC projects in the territory of Armenia”.

“Gazprom” noted that the main directions of “Areximbank” activities will be the account-cash operations, crediting, trade and project funding for large corporate customers. The potential customers of “Areximbank” are large companies from Armenia and subsidiary organizations of Russian enterprises.

“Areximbank” will continue providing services to individuals as well.

The First Vice-President of “Gazprombank” Olga Kazanskaya stated that “in medium-term prospect, “Areximbank” will become one of the leaders of the banking system of Armenia in the sphere of financing strategically important branches of the country’s economy”.

Mediamax notes that the structure of “Areximbank” share-holders had the following composition: “Finmarket” CJSC - 52.08%, “Impexbank” OJSC - 19.91% and “ROSKRED RESOURCES AND CONSULTING LIMITED” LLC - 28.01%.

Basing on the fact that “Gazprombank” purchased 80.09% of “Areximbank” CJSC, one may come to a conclusion that “Finmarket” CJSC and “ROSKRED RESOURCES AND CONSULTING LIMITED” LLC sold their shares of the Armenian bank and the Russian “Impexbank” remained the owner of 19.91% of “Areximbank”.