Wednesday, March 28 2012 20:32
VTB Bank (Armenia) is leader in corporate lending
ArmInfo. VTB Bank (Armenia) maintains its leading positions in corporate banking business by demonstrating an 11 pct share in the market of corporate lending. The press service of the Bank told ArmInfo that the corporate customers of the Bank are the market leaders and promising medium enterprises in the sphere of insurance, trade, energy, transport, light and heavy industry, as well as IT and telecommunications.
According to the source, the credit portfolio of the Bank grew by 41.8% to 122.7 bln AMD in 2011 due to the significant increase in personal and corporate loans. By late 2011, the share of the Bank in the market made up 9.6% for loans.
"The year 2011 became one more year of successful development for VTB Bank (Armenia). In the sphere of lending, we have actively been working in three key dimensions: consumer crediting, mortgages and credit cards. We have also been cooperating with wholesale and retail trade companies, enterprises dealing with construction, as well as with food companies. We are sure that the year 2012 will be more effective, and we are expecting high growth rates for the loan portfolio", said Yuri Gusev, Acting Director General of VTB Bank (Armenia).
In 2011 VTB Bank (Armenia) continued its aggressive expansion in various segments of retail business and improved its leading position in the market of retail services for the population. In 2011 the Bank worked out and introduced new types of plastic cards and consumer credits, extended the range of money transfer systems, etc. In 2011 the volume of the loans provided to individuals was up 44% (by 15 bln AMD) to 48.8 bln AMD, which allowed the Bank to occupy 12.59% of the market and to rise to the 2nd position.
To note, VTB Bank OJSC is the 100% stockholder of VTB Bank (Armenia) CJSC. The Bank has 68 branches: 24 in Yerevan and 44 in the regions.
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