YEREVAN, July 29. /ARKA/. VTB Bank (Armenia) was the largest lender among Armenia’s banks in the second quarter of this year, the bank’s press office reports.
Its credit investments have grown 1.4% since the beginning of this year reaching AMD 230 billion by late June.
The bank’s share in Armenian banks’ aggregate credit investments was 12.4% in late June.
“VTB Bank (Armenia) keeps financing intensely construction, food, agriculture and commerce segments of the economy, and it also continues developing POS, mortgage and car lending,” the bank says in its press release.
The bank’s assets grew 3.4% in Jan-June to AMD 312 billion. Its assets made up 10.7% of Armenian banks’ aggregate assets in late June.
VTB Bank (Armenia) is also among the country’s flagship banks for its capital, which grew 18% to AMD 44 billion.
VTB Bank (Armenia) CEO Yuri Gusev is quoted in the press release as saying that the bank is doing whatever necessary to make some lending products affordable.
He also said that flexible terms, a wide range of credit products and individual approach to each client’s business have contributed a great deal to such high indicators.
“We will continue working out and offering credit products on attractive conditions,” Gusev said.
VTB Bank Armenia joined VTB Group in April 2004. VTB, the second largest bank of Russia, holds 100% of shares of VTB Bank (Armenia). VTB Bank (Armenia) has 67 branches all over Armenia’s territory - the largest branch network in the country. VTB Bank (Armenia) is traditionally reckoned among leaders for general indicators. ($1 – AMD 406.52). --0-----