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VTB Bank (Armenia) among top 3 Armenian banks in terms of retail business

  • Friday, April 18, 21:33

 In 2013 VTB Bank (Armenia) was among the top three Armenian banks in terms of retail business. At today's press conference, Director General of VTB Bank (Armenia) Yuri Gusev said that in 2013 the Bank's position in personal deposits rose by two points to the second place. The Bank's share in the market of personal deposits grew from 9.6% to 10.9%. In 2013 the relative growth in personal deposits made up 39.9% (101.6 bln AMD). 

The Bank also 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%. 

"In 2013, the Bank's efforts in the retail business were aimed not only at increasing the deposit and loan portfolios and enhancing the efficiency of retail services, but also at improving the range of retail products, developing alternative sales channels and enhancing the quality of customer service. In 2013 the Bank continued its aggressive expansion into various segments of retail business and improved its positions in the market of retail services rendered to the population", said Gusev. 

He added that in 2013 the Bank extended the range of its products and services. In particular, the Bank worked out and introduced new types of branchless banking, created customer self-service zones in most of the branches by installing payment terminals, issued and serviced international MasterCards, and emitted VISA Instant issue cards. In 2013 the Bank launched an unprecedented service in Armenia - international card-to-card transfers through all the ATMs of the Bank. In collaboration with the VISA international payment system, the Bank held two campaigns stimulating noncash payments: "Summer with VTB" and "Olympic Campaign Sochi 2014".

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). It also has an own processing center, which gives it an advantage on the card market. VTB Bank (Armenia) is in the lead in active cards (over 285 thsd cards). It serves local ArCa cards along with issuing and servicing international Visa cards. In late 2013 the Bank started issuing international MasterCards as well.  The Bank has also been in the lead in pension cards (more than 70 thsd cards) since they were launched in the Armenian market. 

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