GAZPROMBANK INCREASES INVESTMENT IN ARMENIA
Vestnik Kavkza
Aug 31 2012
Russia
Gazprombank Deputy CEO Nikolai Korenev said at a meeting with Armenian
Prime Minister Tigran Sargsyan in Yerevan that the bank was planning
more business activity in the country, News Armenia reports.
The sides discussed trade-economic programs of Armenia and Russia
developed by the intergovernmental commission, prospects for
development of the Nairit chemical factory in Yereva.
Gazprombank purchased 80% of shares of Areximbank (Armenia) in November
2007. Areximbank organized additional emission in July 2008, purchased
by Gazprombank, increasing its share to 94.15%. Gazprombank purchased
the remaining 5.85% from Raiffeisenbank in September 2008.
Areximbank-Group of Gazprombank (Areximbank was renamed on June 12,
2009) was formed in August 1998 to support business and service
financial streams of Russia and Armenia.
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