Monday, June 7 2010 20:51

ArmInfo. The share of soured loans in VTB Bank (Armenia) is monthly reduced by 1.5% starting each January, Mher
Grigoryan, Deputy Director General, member of VTB Bank (Armenia) Directorate, said at today's press conference.

According to him, at the moment the total volume of soured loans in the summary credit portfolio of the bank is 6.5%. In the annual dynamics this figure has seriously declined. Grigoryan said that there are more such credits in retail than in the corporate portfolio. For instance, the share of soured loans in the retail portfolio of the bank amounted to 10% in late Q1 2010, and it will decline to almost 7% by the end of June, he said. "This dynamics is quite logical, and we see absolutely no problems in this segment",- he said.

According to the Ranking of Commercial Banks of Armenia by the Agency of Rating Marketing Information (ArmInfo), as of 1 April 2010 the credit portfolio of VTB Bank (Armenia) amounted to 81 bln AMD (III position). The share of overdue loans in the summary credit portfolio of Armenian commercial made up 6,48% by 1 April 2010.