Monday, March 23 2015 16:02

 VTB Bank (Armenia) jointly with Ameriabank has funded the construction of an up-to-date energy-efficient greenhouse complex of the Green House LLC  in Shahumyan village, Ararat region, Armenia. The opening ceremony of the greenhouse was held on March 21, the Bank's press-office told ArmInfo.  President of Armenia Serzh Sargsyan, ambassador of Russia, France, charge d'affairs ad interim of Italy to Armenia, the leadership of VTB Bank (Armenia), and representative of the local business community attended the event.

The company was founded in 2011 with the aim of setting up a greenhouse complex and organizing production of melons and gourds. The company is mainly engaged in exporting fresh and recycled vegetables to CIS and European countries. The new greenhouse occupies 30 ha in the village of Shahumyan and will be producing garden radish for Armenia and export to Russia. 

"Armenia is attractive for investors due to the agricultural projects and a range of the government-initiated programs lifting customs fees for import of equipment and greenhouse engineering. The greenhouse complex will not only boost greenhouse industry in the country, but also help create more jobs. VTB Bank (Armenia) has a good experience in funding greenhouse economies. We hopes for more such implementation of projects in future," says Yuri Gusev, VTB Bank (Armenia) Director General-Chairman of Board.  He specified that the new greenhouse has already employed over 70 people in the community.

According to ArmInfo's Financial Rating of Armenian Banks, VTB Bank (Armenia) is among top three banks in terms of financing of economy sectors. As of Jan 1 2015, the bank's corporate loan portfolio totaled 163 bln drams (over 61% of total loan portfolio), with a 23% year over year growth and 22% growth for Q4 2014. Industrial loans account for 22% of total loan portfolio of the bank, trade-financing accounts for 21.5% of total, with construction and agriculture accounting for 10% and 9% of total, respectively.  The bank is the leader in terms of the SME finance - 121.9 bln drams with a twofold growth year over year and 20.3% for Q4 2014. The bank is on the third place by the construction and agricultural loans, on the 5th place - by the trade finance, and the 6th place - by the industrial loans. Loans account for over 70% of the bank's assets or 266.5 bln drams with a 17.3% year over year growth and 12.7% growth for Q4 2014.

VTB Bank Armenia is part of VTB Group (100pct share).  It has the country's biggest branch network - 67 branches.