Areximbank renamed Areximbank - Group of Gasprombank

June 24, 2009 - 22:27 AMT
PanARMENIAN.Net - Areximbank is renamed to Areximbank - Group of Gasprombank CJSC, press office of the Central Bank of Armenia reports. The decision was made on June 12 this year.



The Areximbank Armenian-Russian export-import bank was established in 1998 to support entrepreneurship and manage financial flows between Russia and Armenia. The bank is a principal member of the VISA International and Master Card payment systems, and a member of the SWIFT system.



Since October 2006 the Areximbank has participated in the German KfW program "Stable Development of the Mortgage Market". In August 2005, the Moscow "Impexbank" acquired 19.91 per cent of Areximbank's shares.



On November 29 of 2007, Gazprombank acquired majority interest of Areximbank. Currently, Gazprombank has 80.1 per cent, Raiffeisenbank has 19,9 per cent of interest.
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