Yerevan/Mediamax/. Board of “Areximbank – Gazprombank Group” approved the bank’s development strategy, according to which the bank should enter the list of largest banks in Armenia by 2012.

As Mediamax was informed in the press service of the bank, the new strategy sets a number of tasks for “Areximbank – Gazprombank Group”, the final goal of which is to reach a level of basic financial indices, given which the bank will enter the list of leaders of the Armenian banking system, becoming a backbone financial structure for the republic with a ramified branched network.

According to the strategy, the financial model of the bank’s development provides for capitalization at a volume, allowing increasing the level of assets threefold by 2012 (up to $300mln), and the credit portfolio of the bank – over 3.5 times.

In connection with this, a number of particular steps have already been taken. At the end of 2009, the bank’s capital was increased by 3bln 850mln AMD. Increase of own capital is conditioned by the necessity to increase the credit portfolio and later on attract large corporate customers for service. Besides, the bank has attracted a subordinated loan at the volume of 3bln 850mln AMD from Armenian CB.

As of today, the general capital of “Areximbank – Gazprombank Group” CJSC makes over 16.0bln AMD.