Friday, November 23 2012 19:13

VTB Bank (Armenia) to increase portfolio of retail exposures to 82 bln AMD in 2013


ArmInfo. By the end of 2012 VTB Bank (Armenia) is going to increase the portfolio of retail exposures to 68 bln AMD, and in 2013 - to 82 bln AMD, Yuri Gusev, Director General, Chairman of the Directorate of VTB Bank (Armenia), said at today's press conference dedicated to the results of the Bank's activity for Jan-Sept 2012. Over the first three quarters of 2012, this index already exceeded 60 bln AMD.

He said that in 2013 the retail activity of the Bank will focus on POS-lending, consumer lending, and various new card products will be introduced.

At the same time, the Bank is going to increase the book of loans provided to small businesses to 16-18 bln AMD in 2013. As of 1 Oct 2012, this portfolio totaled 12 bln AMD. VTB Bank (Armenia) is planning to complete the year 2013 with a net profit of 4.5 bln AMD. Over Jan-Sept 2012, this index already made up 2.5 bln AMD. Over Jan-Sept 2012, the operating income amounted to 12.2 bln AMD (up 21.5% versus Jan- Sept 2011).

The funds attracted from the customers totaled 105.1 bln AMD. The private deposits of individuals grew by 40.6% to 63.3 bln AMD; the time deposits and call deposits of the corporate customers rose by 22.8% to 41.843 bln AMD. Over Jan-Sept 2012, the ROE and the ROA of the Bank made up 11.6 % and 1.8% respectively. By the end of 2012 the ROE of VTB Bank (Armenia) is to total 15% (in compliance with the target).

"The base worked out in the course of the retail development project allows the Bank to provide services at the quality level typical to the VTB Group members. On the whole, it is the retail business that enhances the efficiency of our Bank", stressed Gusev. He added that in 2012 the Bank also activated corporate lending - to both large and medium businesses.

"Successful activities in the framework of VTB Bank's strategy allow VTB Bank (Armenia) to strengthen its positions in Armenia's banking system, especially in its retail sector. Due to its efforts to develop personal and SME lending and to enlarge its branch network, VTB Bank (Armenia) was among the leaders in Jan-Sept 2012," Deputy President of VTB Bank (Armenia) Vsevolod Smakov said.

In Jan-Sept 2009 the bank's loan book grew by 25% to 140bkn AMD, wherein personal loans grew by 36.8% to 60.9bln AMD, while corporate ones by 21.5% to 86.8bln AMD. In late Sept 2012 the bank's assets totaled 186.3bln AMD (15% growth). Oct 1 2012 VTB Bank (Armenia) had 200,000 active plastic cards (only VISA).

VTB Bank (Armenia) was set up in 2004. 100% of its shares are owned by VTB Bank (Russia). The bank has 69 branches (25 in Yerevan).
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