Newsfeed

Politician: Perhaps great powers have promised Armenia to pressure Turkey into opening Armenian-Turkish border

Armenian general suggests delivering a series of preventive surgical strikes at Azeri army's combat positions

General: Even Turkish instructors admit low combat effectiveness of Azeri army

Mika Stadium placed on auction

Resident of Artashat wounded in shooting

Armenian Foreign Minister to attend Erdogan's swearing-in ceremony

VTB Bank (Armenia) offers a new installment credit with 1% discount

Beeline provides its subscribers with free access to its website

ACBA-Credit Agricole Bank announces a CASHBACK QUEST contest for AmExR Cashback cardholders

Ameriabank launches AmeriaToken - innovative application for smartphones of customers using online services

Employees of Areximbank-Gazprombank Group join international Ice Bucket flashmob

Armenian Presidnet: Not everybody is glad that Armenia is joining the Customs Union

Armenian FM may attend inauguration of Turkish President

Armenian President is comfortable with activities of parliamentary opposition

Vice Speaker of Armenian Parliament: Mass violence applied against Yazidis in Iraq is unacceptable

Georgian Military road completely cleared

President of Armenia: Baku organizes provocations at the highest level

Aram Manukyan: Armenian authorities pushed the idea of independent and free Armenia to the sidelines

Coordination Center of Armenian Associations of Sweden demand Azerbaijan to repatriate Karen Petrosyan's body

Areximbank-Gazprombank Group provides nonchip Visa Gold and MasterCard Gold cards

Shavarsh Kocharyan: Murder of Karen Petrosyan has many similarities with the cruel murder of American journalist in Syria

Ivan Kuhta: Difference of our political orientation will not affect Ukrainian-Armenian relations

Armenian President: Armenian-Georgian relations are on all-time high level

Special offer for Orange Internet subscribers

Armenia's Defense Ministry Spokesperson denies Azerbaijan's reports on exchange of captives

Exclusive

Ivan Kuhta: Difference of our political orientation will not affect Ukrainian-Armenian relations

Zardusht Alizadeh: Arriving in Sochi, Aliyev and Sargsyan once again demonstrated the world that Russia is still the demiurge in the Caucasus

Masis Mailyan: Unlike Azerbaijan, global centers of force are not interested in growing tensions in Nagorno-Karabakh conflict zone

Sergey Grinyayev:The West’s sanctions are extremely positive for the Eurasian Union project

Alexey Kolomiyets: West's sanction will hardly sober Putin and the Kremlin

Hrant Bagratyan: Sanctions will have tangible impact on Armenia

Georgi Kolarov: The second Nagorno-Karabakh war is inevitable

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

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

Shmuel Meirom: Israel is willing to contribute of its experience in the field of economy, but it cannot force Israeli business to invest in Armenia

Marine Karapetyan: Ameriabank on large business: problems and solutions

Eduard Sharmazanov: The opposition camp has no leader to steer the people

Alexander Zinker: Readiness of the Kremlin to protect its “Big Russian world” is dangerous for Russia itself

Vahe Davtyan: lternative power engineering should be developed regardless of fluctuations in electric power tariffs

Alexander Krylov: Taking into consideration the experience of the EU, Russia has to refuse maximal extension of the Eurasian Economic Union

VTB Bank (Armenia) increases statutory capital to 20.8 bln drams through additional issue of shares

  • by Erik Abrahamyan

  • Saturday, March 22, 11:18

The statutory capital of VTB Bank (Armenia) has been increased to 20.8 blnb drams through additional issue of shares, the bank's press-service told ArmInfo.  This month the bank issued shares in the amount of 7 bln drams. VTB Bank OJSC acquired the issue entirely, but its share in VTB Bank (Armenia) was left unchanged.

"The capitalization will allow retaining the growth rates, even more increasing the loan portfolio and expanding the branch network. The sustainable growth of the Bank was reflected also in the key figures for 2013. Thus, as of Jan 1 2014 assets of the bank totaled 303.6 bln drams with a 42.5% annual growth (or by 90,5 bln drams). 75% of total assets are credit exposures, which grew 33% for 2013, " says Yury Gusev, Director General-Chairman of Board of VTB Bank (Armenia).

"The increase in the statutory capital of the bank will not only strengthen the bank's leadership positions by active operations, but also allow the bank gain leadership position by the total capital. At present, a new development strategy of VTB Group is being developed, which will determine the development plans also for the subsidiaries, including VTB in Armenia," says Mikhail Yakunin, Senior Vice President, Head of the Department for Subsidiaries of VTB Bank, Chairman of the VTB Bank (Armenia) Board.

According to the Financial Rating of Armenian Banks prepared by ArmInfo, VTB Bank (Armenia) is the leader by credit exposures. The share of the bank's loan portfolio in assets is nearly 76%. Over 61% of the total loan portfolio is loans to economy sectors and nearly 39% are retail loans, with an annual growth of 37% and 33%, respectively.

The bank is among Top Three banks of Armenia in terms of loans to economy sectors and personal loans. The bank has leadership positions also by trade finance, industrial agricultural, construction loans, SME finance and consumer loans.

In 2013 the bank doubled lending to the industrial and construction sector, increased lending to the agricultural sector by 85%, trade

finance- by 19%, SME finance - by 52%, consumer lending - by 38%. VTB Bank (Armenia) is among TOP Three banks in terms of time deposits -106.5 bln drams (nearly 41% of total liabilities) with a 47% growth for 2013. In the structure of time deposits, personal loans make up nearly 80%, with a 43% annual growth of the absolute indicators. Total capital of the bank grew 24% in 2013 to 37.5 bln drams, with the statutory capital totaling 13.9 bln drams. In 2013 the bank received

4.9 bln drams profits, which was 28% more than in 2012. The bank retains the leadership position also by the given indicator.

VTB Bank (Armenia) CJSC joined the financial group VTB in April 2004.

At present VTB Group holds 100% stake in VTB Bank (Armenia). The Bank has the largest branch network - 67 branches, including 44 in the regions of Armenia.

Send to a friend

To (e-mail)


Your name


Message


Comments

View comments (0)
  • READ ALL COMMENTS
  • POST A COMMENT

Be first to comment on this article

* Indicates required fields