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VTB Bank (Armenia) increases corporative crediting almost by 40% in 2013

  • by Gayane Isahakyan

  • Friday, April 18, 21:41

According to the results of 2013, VTB Bank (Armenia) increased its credit portfolio to legal persons by 39.8% - up to 144.0 billion AMD.  As Director General of the Bank, Yuri Gusev, said at today's press-conference, the share of the bank at the corporative clients crediting market was 11.7% according to the results of 2013. 

He said that VTB Bank (Armenia) will go on actively financing such sectors as constructing, trade companies, agriculture and food industry. The crediting sum of these sectors amounted to 98.5 billion AMD, and deposits of legal persons amounted to 47.2 billion AMD by the results of 2013.

"VTB Bank (Armenia) serves all categories of corporate customers, providing them with the full spectrum of banking services throughout Armenia. The Bank offers products and services to its corporate customers with due regard for their business specificity, ensuring high reliability of the operations", said Gusev. He pointed out that the Bank's corporate customers are the market leaders and promising medium-sized companies in the fields of insurance, construction, trade, energy, transport, light and heavy industries, IT and telecommunications.           

"VTB Bank (Armenia) keeps supporting the most important sectors of Armenian economy, contributing to development of the large and medium businesses in Armenia, as well as the financial and state organizations. In 2013 the Bank extended the range of its products and services. It elaborated and introduced a new financial service - Financial Leasing", he recalled. The Bank also carried out large-scale operations to improve the range of factoring services. In particular, in collaboration with VTB Factoring, member of VTB Group, the Bank prepared and carried out the first international factoring transaction. 

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). 

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