Areximbank-Gazprombank Group has raised its authorized stock by 9.4 billion drams or $20 million to a total of 25.9 billion drams.

As ARKA reports citing the bank’s press office reported, the stock is increased by the sole stockholder, through an issue of additional shares. Areximbank-Gazprombank Group was established in August 1998. In 2007, it became a subsidiary of Russia’s biggest bank, Gazprombank.

The bank’s assets in 2014 totaled AMD 110.7 billion (52.5% drop) and liabilities AMD 95 billion (55.2% decline). Its loan portfolio amounted to about AMD 69 billion (25.5% decline), capital to AMD 15.6 billion (26.58% decline) and authorized stock to AMD 16.4 billion. The 2014 loss was AMD 5.6 billion, compared to AMD 108.7 million in profit in 2013.