ArmInfo.Prime Minister Nikol Pashinyan, who is in the Russian Federation on a working visit, had working breakfast with Andrey Kostin, Chairman of the Board of the Russian VTB Bank. The interlocutors discussed ways of expanding VTB Bank's activity in different spheres of the Armenian economy.
According to the press service of the Armenian government the Prime Minister appreciated VTB Bank's presence on the financial market of Armenia and its active investment activity in various sectors of the economy. Introducing his government's priorities for the development of Armenia's business environment and economy, Nikol Pashinyan stressed the need for the banking sector, including VTB Bank, to respond adequately to business sector developments in Armenia.
According to the Financial Rating of Armenian Banks as of January 1, 2018, prepared by ArmInfo News Agency , VTB Bank (Armenia) is one of the top three with a volume of 90.4 billion AMD ($ 186.8 million), with annual growth of 15.9%. In the total loan portfolio of the bank, the retail share reaches 53%. In the total volume of retail lending, the share of VTB Bank (Armenia) is 11% on the market. On consumer loans, the Bank holds the 2nd position - 77.2 billion AMD ($ 159.6 million) or 46.6% in the loan portfolio. In the annual credit profile, VTB Bank (Armenia) increased the volume of consumer loans by 23.3%. In the total volume of consumer lending, the share of VTB Bank (Armenia) in the market exceeds 13%.
