Wednesday, August 29 2012 18:44

Over 7 years of activity in Armenia, BTA Bank invested 50 mln USD in economy


ArmInfo. Over 7 years of activity in Armenia, BTA Bank invested 50 mln USD in the country's economy, Gayane Hayroyan, Deputy Head of Board of BTA Bank (Armenia), said at today's conference "20 years of cooperation and mutual understanding between Armenia and Kazakhstan" held in Yerevan.

She said that the activity of BTA Bank in Armenia mostly aims to support the Armenian enterprises wishing to create business in Kazakhstan to find partners and introduce Armenian products in the market of Kazakhstan. The Bank also helps the Kazakh enterprises to extend their business in Armenia.

"Armenia and Kazakhstan have been cooperating in various spheres for many years. This cooperation has deep historical roots. Due to the accession to the Customs Union, Kazakhstan is a quite attractive market for Armenian companies, and in this context it is hard to overestimate BTA Bank's role in restoration of economic ties between the two states", said Hayroyan. She added that BTA Bank (Armenia) is investing funds, creating workplaces, thereby reinforcing Armenia's economy. The Bank is mostly working in the market of small business and with private customers. The Bank has also started stage-by-stage lending to the agriculture sector of Armenia.

"The investments are first of all made in where there is political and economic stability. By its presence in Armenia, BTA Bank demonstrates that Kazakhstan sets high value on the stable political situation in Armenia", she stressed.

According to the Ranking of Banks of Armenia by the Agency of Rating Marketing Information, as of 1 July 2012, BTA Bank's lending totaled 5.1 bln AMD (5.1% growth for Jan-June 2012, 18% growth versus the same period of 2011). The assets of the Bank totaled 9.8 bln AMD (8% growth versus Jan-June 2011, 4% growth for Jan-June 2012). The total capital of the Bank grew by 2.2% (1.2% growth versus Jan-June 2011) to 5.5 bln AMD. The Bank has 7 branches, 6 of them in Yerevan.

To note, BTA Bank (Armenia) is the only bank in Armenia with Kazakh capital.
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