Wednesday, November 6 2013 18:12

VTB Bank (Armenia) leader in Armenia's banking market in terms of loan portfolio


ArmInfo. VTB Bank (Armenia) is the leader in the banking system of Armenia in terms of the loan portfolio as of 1 Oct 2013, the bank press-service told ArmInfo. The bank's loan portfolio reached 215.9 bln drams for the period under review. The share of personal loans in total amounted to 81.8 bln drams (a 25.5% growth for 9 months of 2013), corporate loans amounted to 134.1 bln drams (a 30.1% growth). The bank retains leadership positions in terms of both corporate and retail loans.

According to the bank, it keeps actively funding the sectors of construction, food industry, agriculture, trade and commerce. The bank has lent already 88.9 bln drams to the given sectors. The portfolio of consumer loans amounted to 63 bln drams on 1 Oct 2013. The bank increased the portfolios of car loans and credit cards (including overdrafts) for 9 months of 2013.

"VTB Bank (Armenia) keeps expanding its presence in the market. Strong position in the credit market and effective placement of resources help the bank increase profits. The bank offers flexible lending terms, a range of credit products, highly-qualified personnel and individual approach to the business of every customer," says Yuri Gusev, Director General-Chairman of the Board of Directors of VTB Bank Armenia. TB Bank (Armenia) joined VTB Group in April 2004. Russian VTB Bank OJSC holds 100% stake in VTB Bank (Armenia). The bank has been among leaders in the banking system of Armenia in terms of a range of key figures. It serves 67 branches throughout the country (the biggest branch network in the country).
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