Monday, August 27 2012 19:43
VTB Bank (Armenia) in the lead by its operating profit in Armenia
ArmInfo. Over the first half of 2012, VTB Bank (Armenia) took the lead in the Armenian banking system by its operating profit. The press service of the Bank told ArmInfo that the total operating profit of the Bank amounted to 9.2 bln AMD mostly due to the 35% growth in the operating profit of the retail business for I half of 2012.
Within the period under review, the share of the operating profit of the retail business in the total operating profit of the Bank rose by 9% as compared to the same period of 2011 (and by 15% versus 2010) and totaled 65%.
The portfolio of personal loans was up 30.4% (14.6 bln AMD) to 62.4 bln AMD. The portfolio of corporate loans was up 5.3% to 78.9 bln AMD.
The private deposits of individuals were up 23.1% to 57.9 bln AMD, which again confirmed the leading position of VTB Bank (Armenia) in the market of individuals' deposits. The deposits of corporate customers were up 17.7% to 38.1 bln AMD.
Th source says that the net profit of VTB Bank (Armenia) totaled 1.9 bln AMD over the first half of 2012 (3rd position in the banking system), loan portfolio of customers was up 15.1% to 141.3 bln AMD, the funds attracted from the customers was up 20.9% to 96.1 bln AMD. The operating earnings totaled 8.7 bln AMD (47.4% growth versus Jan-June 2011). ROE and ROA totaled 12.9% and 2% respectively.
Over the first half of 2012, nearly 330 thsd individuals and more than 5 thsd legal entities made use of the Bank's services.
Yuri Gusev, Acting Director General - Chairman of Directorate of VTB Bank (Armenia) says that the Bank is one of the leading Armenian banks in the retail and corporate segments. "We actively continue developing and considerably consolidating our positions by the main parameters. Over the first half of 2012, we occupied the 1st position by the operating profit, which was mostly due to the growth in the operating profit of our Bank's retail business. The retail business of the Bank is aimed at increasing the deposit and loan portfolios, enhancing the efficiency of retail services, and improving the range of retail products", he says.
To note, the sole shareholder of VTB Bank (Armenia) CJSC is VTB Bank (Russia) OJSC. VTB Bank (Armenia) has been operating in Armenia since 2004. The Bank's branch network is the largest (68 branches).
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