Friday, November 23 2012 20:46

Vice President of VTB24: We are glad to see good banking and business legislation in Armenia


ArmInfo. We are glad to see good banking and business legislation in Armenia. In many other countries business conditions are less predictable, Vice President of VTB 24, member of the Board of VTB Bank (Armenia) Vsevolod Smakov told journalists on Friday.

He said that the Armenian authorities have a big role in this.

CEO of VTB Bank (Armenia) Yuri Gusev said that the Central Bank and the Union of Banks of Armenia are doing their best to ensure the sector's stable growth.

"Today economy and banking worldwide and in Armenia are facing lots of problems, and there is no long-term strategy of how to solve them. In this situation, the Union of Bankers and the Central Bank of Armenia are very active and efficient in helping local banks to solve their problems and to develop business in the country," Gusev said.

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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