by Gayane Isahakyan
According to the results of 2013, VTB Bank (Armenia) has become the leader on the aggregate credits - 12,2% of the banking crediting market, Director General of the Bank, Yuri Gusev, said at today's press-conference.
VTB Bank (Armenia) earned last year the record high income of 5.6 billion drams, he said and added that the bank's assets in 2013 increased by 43.1% up to 302.3 billion AMD, the second highest indicator among local banks which constituted 10.2 % of the combined assets of all 21 banks. He said the bank's level of return on capital (RoC) in 2013 was 16.7 %, up from projected 15%, while the ratio of return on assets (RoA) was 2.2%.
He also added that last year was marked by a major reformation of the branch network and introduction of new products. In terms of retail lending VTB Bank (Armenia) was second in 2013 with a market share of about 14.7%, a one percent increase from the previous year. According to forecasts, this trend will continue this year as well, Gusev said.
By the size of the aggregate loan portfolio VTB Bank (Armenia) was the absolute leader last year. In 2013 it increased by 38.1 % to 232.1 billion AMD, or 12.2 % of the market share. Last year the bank provided services to 458,000 individual customers and over 5,000 corporate clients. The interior and exterior of 37 of its branches were harmonized with the standards of VTB Group. "Our key objective was to be a reliable and professional partner for our customers and to provide them with quick and high-quality services. In 2014 we are planning to be even more efficient and to further increase our credit and deposit portfolios," Gysev said.
VTB Bank (Armenia) joined VTB Group in Apr 2004. Now 100% of its shares are owned by VTB Bank (Russia). VTB Bank (Armenia) is among the leaders of Armenia’s banking system. It has the largest branch network in the country (67 branches).