Public Services Regulatory Commission decides to reduce tariffs of some services of ArmenTel CJSC

Poaching and illegal hunting tours endanger birds in Armenia

The NKR premier: The Madrid Principles are certainly unacceptable to us

Armenian Copper Programme cuts blister copper production by 13.5%

VTB Bank (Armenia) confirms its leadership in lending

EY takes employees of Armenian ancestry back to their roots

Levon Hayraptyan's health much worse

Vahagn Hovnanyan: Oligarchs have full control of Armenian economy

John Heffern believes that Nagorno-Karabakh conflict can be resolved only through peaceful talks

In Oct 2014 Armenia to join UN peacekeeping operation in Lebanon

ICRC car fired at on Armenian-Azeri border

Artashes Shaboyan: Reduction in consumer demand has a negative effect on supermarkets

Azerbaijan mounts another sabotage attack on Line of Contact, Armenian side has 1 victim and 2 wounded

Helsinki Citizens' Assembly Vanadzor Office urges Armenian Defense Ministry to look into military conscription of a kyphotic young man

Armenia suffers no losses during crossfire initiated by Azerbaijan on Armenian-Azeri border

Tigran Davtyan: If you have a telephone with you, it means that you have a wallet with you too

Armenia's former prime minister: The indicator of the economic growth in Armenia is extremely low for the first half of 2014

RPA: OSCE Minsk Group Co-Chairs’ latest statement was addressed to Azerbaijan

French citizen lost in Gegarkunik region of Armenia

RPA does not hurry to assess 100 day activity of Hovik Abrahamyan's government

Serzh Sargsyan sees no need in arming of population of border villages

Seyran Ohanyan: Armenia has been putting in place ‘engineering facilities’ along with other measures to prevent attempts by Azerbaijani sabotage groups to infiltrate into its territory

Charges brought against Levon Hayrapetyan

VTB Bank (Armenia) increases car loan portfolio by over 70% due to retail lending facilitation

  • by Gayane Isahakyan

  • Friday, April 18, 21:38

 In 2013 VTB Bank (Armenia) registered the most intensive growth in car loan provision among the Armenian banks. Last year the Bank's car loan portfolio grew by over 70% to 3.4 bln AMD.

The share of VTB Bank (Armenia) in the market of car loans provided by the banks, exceeds 20%, and the Bank is among the top 3 leaders by its car loan portfolio. 

Yuri Gusev, Director General, Chairman of Directorate of VTB Bank (Armenia) CJSC, told ArmInfo's correspondent that the growth of the car loan portfolio was due to facilitation of retail lending procedures.  "In 2013, the Bank's efforts in the retail business were aimed not only at increasing the indices, but also at improving the range of retail products, developing alternative sales channels and enhancing the quality of customer service", said Gusev. 
To note, in 2013 VTB Bank (Armenia) took the lead in total lending (12.2% of the bank lending market). In 2013 the Bank increased its total loan book by 38.1% to 232.1 bln AMD, or 76.8% of total assets.

The Bank retained its second position in retail lending. The loans provided to individuals grew by 35.5% versus 2012 to 88.1 bln AMD. The Bank's share in the retail lending market made up 14.8%. 

VTB Bank (Armenia) joined VTB Group in April 2004 and is fully owned by VTB Bank, the second biggest bank in Russia. VTB Bank (Armenia) is one of the leaders of Armenia's banking sector. It has 67 branches all over the country (the largest branch network in Armenia). 

Send to a friend

To (e-mail)

Your name



View comments (0)

Be first to comment on this article

* Indicates required fields