Tuesday, July 29 2014 13:58

VTB Bank (Armenia) confirms its leadership in lending


ArmInfo. In Q2 2014 VTB Bank (Armenia) confirmed its leadership in lending.

According to the press service of VTB Bank (Armenia), as of July 1 2014 the bank's loan book exceeded 230bln AMD (1.4% growth in Jan-June 2014). This is 12.4% of all loans in Armenia's banking system.

VTB Bank (Armenia) continues to actively finance construction, food industry, agriculture, trade and commerce and to develop POS, mortgage and auto lending. 74% of the bank's assets are loans.

In Jan-June 2014 the assets of VTB Bank (Armenia) grew by 3.4 to 312.5bln AMD (2nd place among Armenia's banks) or 10.7% of all assets in Armenia's banking system. The capital grew by 18% to 44bln AMD (one of the five biggest capitals in the banking system).

"VTB Bank (Armenia) is improving its lending activities. We offer flexible and attractive terms, a wide range of products and an individual approach to each borrower," says the bank's CEO Yuri Gusev.

As of July 1 2014 the bank's obligations made up 268bln AMD (2nd place among all Armenian banks, 77% growth as compared with July 1 2013 and 1.3% growth in Jan-June 2014). This is 11% of all obligations in Armenia's banking system.

As of July 1 2014 VTB Bank (Armenia) registered the third biggest accumulated profit in Armenia's banking system – 17.8bln AMD (16.8% more than on July 1 2013). This is 41% of the total capital and 48% of the authorized capital.

VTB Bank (Armenia) joined VTB Group in Apr 2004. 100% of its shares are owned by VTB Bank. The bank has the biggest branch network in Armenia (67 branches all over the country).
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