Tuesday, November 23 2010 23:20

VTB Bank Armenia has the biggest net profit in Armenia's banking system


ArmInfo. In Jan-Sept 2010 VTB Bank Armenia showed the biggest net profit in Armenia's banking system - 3.190bln AMD - three times more than a year before.

Chairman of the Board and CEO of VTB Bank Armenia Valery Ovsyannikov says that, in compliance with the strategy of its sole shareholder VTB Group, VTB Bank Armenia gives priority to profitability and efficiency. In Jan-Sept 2010 the bank's ROE and ROA made up 16.1% (2nd rank) and 3.7% (1st rank), respectively.

"This year we have focused on optimizing our business processes related to risk management in both retail and corporate sectors. Now we continue to actively credit large, medium-sized and small companies," Ovsyannikov said.

As of Oct 1 2010 the capital of VTB Bank Armenia totalled 28.2bln AMD, the assets - 108.3bln AMD (of which 70% were loans). 37% of the capital was accumulated profit (18% growth in Q3 2010).
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