Wednesday, November 9 2011 18:41
Over Jan-Sept 2011 VTB Bank (Armenia) demonstrated 3.9 bln AMD net profit
ArmInfo. Over Jan-Sept 2011 VTB Bank (Armenia) demonstrated 3.9 bln AMD net profit and occupied the 3rd position in the banking system of Armenia by this indicator. These are the results of the financial activity of the Bank in line with the International Financial Reporting Standards.
The press service of VTB Bank (Armenia) told ArmInfo that according to the report, as of 1 Oct 2011 the volume of the funds attracted from the customers made up 79.1 bln AMD. The volume of private deposits of individuals has grown by 23.1% to 44.9 bln AMD since the beginning of 2011. As of 1 Oct 2011, the income from the main activity of the Bank totaled 9.6 bln AMD, having increased by 26.2% as compared to the same period of 2010. The ROE and the ROA made up 17.6 % and 3.6% respectively. The portfolio of the loans provided to individuals grew by 31.4% to 44.5 bln AMD. The credit portfolio of corporate business customers was up 31.5%.
The relative growth of the funds on deposit accounts of individuals in 2011 made up 23.1%, absolute growth - 8.4 bln AMD. The volume of time deposits and call deposits of the corporate customers of the Bank grew by more than 50% since early 2011.
Besides improvement of the tariffs and terms of the products, the Bank was also actively working over optimization of business processes and introduction of hi-tech services for individuals. VTB Bank (Armenia) is the only bank in Armenia, which allows its customers to replenish their bank and card accounts via the network of payment terminals (about 400 terminals throughout Armenia) round-the-clock. In 2011 the Bank rose from the third place to second position by the total number of active cards (local and international) by issuing and serving Visa cards, on which the Bank occupied the main position in the banking system of Armenia. As of 1 Oct 2011, the number of active cards of the Bank exceeded 122,000, with the annual growth being 52.5%. The Bank offers Visa Electron, Visa Classic, Visa Gold, Visa Business and VISA Platinum cards to its customers.
In 2011 VTB Bank (Armenia) continued the program of optimization and improvement of the largest retail network of the Bank in Armenia. New branches were opened in Aparan, Byuregavan, and Noyemberyan. As of 30 Sept 2011, the branch network of the Bank consisted of 68 branches. The Bank introduced a successful and demanded project on recourse factoring in the local market and, under this project, worked out an unprecedented special product, particularly, for the customers of the South Caucasus Railway (SCR). Factoring limits have been opened for the SCR customers, and the Armenian companies' expenses on cargo transportation by rail are financed by these factoring limits. Taking into account the customers' great interest in the product and using the opportunities of VTB Group, VTB Bank (Armenia) is going to introduce pilot projects on non-recourse and international factoring in 2012.
By trade finance transactions, VTB Bank (Armenia) also registered growth in the issued guarantees and letters of credit – by 77% over Jan-Sept 2011 vs Jan-Sept 2010. "In 2011 VTB Bank (Armenia), as a universal bank, continued the dynamic aggressive policy in retail development by successfully increasing the credit and deposit portfolios of individuals and consolidating the leading positions in the market by all indices of both retail and corporate business. At the moment, large-scale measures are being taken to upgrade and optimize all the products and business processes of the corporate segment of the Bank. We keep on actively developing and offering more universal and convenient banking products to our customers, and by late 2011 we expect to register high growth in all the main parameters", stresses Valery Ovsyannikov, Director General, Chairman of Directorate of VTB Bank (Armenia).
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