Thursday, April 29 2010 11:01
In 2010 VTB Bank (Armenia) expects 15%-20% growth in its key figures
ArmInfo. In 2010 VTB Bank (Armenia) is planning 15%-20% growth in its key figures, Director General-Chairman of the Board of VTB Bank (Armenia) Valery Ovsyannikov said during a press-conference today.
He said that the bank is planning to enlarge its share in many segments of the banking system.
He said that the capitalization and liquidity of the Armenian banks are quite high and VTB Bank (Armenia) is not an exception. "The key obstacle that may prevent us to achieve our targets is the corporate sector. Corporate risks are growing and many companies, especially those oriented towards export, are experiencing hard times. This year we are planning to intensify our activities on the retail market," Ovsyannikov said. He noted that overdue loans make up less than 1% of the bank's credit portfolio.
The bank has no problems with funding active operations. "We cooperate with EBRD. Our shareholder also helps us. What we need today is cheaper resources for reducing the cost of borrowed funds for financing big borrowers," Ovsyannikov said.
In Q1 2010 as compared with Q1 2009 the assets of VTB Bank (Armenia) grew by 19% to 126bln AMD. Apr 1 the share of credits in the assets made up 58% or 73bln AMD (0.3% growth in Q1 2010). The share of loans given to individuals grew by 16.6% to 26.7bln AMD with 68.2% of them or 18.2bln AMD being consumer loans (36% quarterly growth). The mortgage credit portfolio totalled 8.5bln AMD. 37% of the bank's loans (27bln AMD) were provided to big companies, 27% or 19.6bln AMD to SME.
The sole owner of VTB Bank (Armenia) is VTB Bank OJSC (Russia).
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