Net profit of bank VTB (Armenia) triples up to 2.9bln drams by end of 2008
21.01.2009,
18:10
Net profit of Bank VTB (Armenia) closed joint stock company grew by over three times up to 2.9bln Drams by the end of 2008, General Director of Bank VTB (Armenia) closed joint stock company Valery Ovsiannikov told a press conference at Novosti Internation
YEREVAN, January 21. /ARKA/. Net profit of Bank VTB (Armenia) closed joint stock company grew by over three times up to 2.9bln Drams by the end of 2008, General Director of Bank VTB (Armenia) closed joint stock company Valery Ovsiannikov told a press conference at Novosti International Press Centre.
In 2008 the bank recorded very good profit indicators as per the national standards and provided a 363% growth as compared with 2007 bringing the volume up to 3bln Drams, Ovsiannikov said.
The bank’s balance sheet profit increased by 462.5$ or by 2.9bln Drams up to 3.7bln Drams.
ROE (return on equity) indicators grew up to 13.1% in 2008 against 6.8% in 2007, whereas ROA (return on assets) remained unchanged at 3.3%. CIR (bank’s cost/income ratio) went down to 50.2% in 2008 against 55.7% in 2007.
Bank VTB (Armenia) (Armsavingsbank before June 20 2006) joined the VTB Group in April 2004. Currently the bank VTB is the full owner of Bank VTB (Armenia) closed joint stock company.
The share capital of the bank was 13.9bln Drams, total capital 23.9bln Drams as of the end of December 31. The bank’s assets totaled 99.2bln Drams and credit portfolio 70.2bln Drams with net profit amounting to 2.9bln Drams in January-December 2008. –0—
In 2008 the bank recorded very good profit indicators as per the national standards and provided a 363% growth as compared with 2007 bringing the volume up to 3bln Drams, Ovsiannikov said.
The bank’s balance sheet profit increased by 462.5$ or by 2.9bln Drams up to 3.7bln Drams.
ROE (return on equity) indicators grew up to 13.1% in 2008 against 6.8% in 2007, whereas ROA (return on assets) remained unchanged at 3.3%. CIR (bank’s cost/income ratio) went down to 50.2% in 2008 against 55.7% in 2007.
Bank VTB (Armenia) (Armsavingsbank before June 20 2006) joined the VTB Group in April 2004. Currently the bank VTB is the full owner of Bank VTB (Armenia) closed joint stock company.
The share capital of the bank was 13.9bln Drams, total capital 23.9bln Drams as of the end of December 31. The bank’s assets totaled 99.2bln Drams and credit portfolio 70.2bln Drams with net profit amounting to 2.9bln Drams in January-December 2008. –0—
