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

Azeri State Committee for Refugees: Issues of the return of Dilgam Asgarov and Shahbaz Guliyev and the transfer of Hasan Hasanov's dead body are under control of President Aliyev

Armenian Government tries to repay its debts by transferring state-owned enterprises' assets to a U.S. company

Armenian environmentalists comment on Red Book apes imported to Armenia

All U.S. citizens traveling to or residing in Armenia are strongly encouraged to enroll in the Department of State's Smart Traveler Enrollment Program

The ICRC has already started talks to return Azeri saboteur's corpse, Azerbaijani State Committee says

Stepan Safaryan: OSCE Minsk Group prefers stroking naughty Azerbaijan

Edward Nalbandian advises his Azerbaijani counterpart not to use international arena for propaganda

Political expert: OSCE Minsk Group Co-Chairs want to lobby the meeting between Presidents of Armenia and Azerbaijan

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



View comments (0)

Be first to comment on this article

* Indicates required fields