Bank VTB Armenia to merge with VTB leasing in one month
08.06.2010,
19:13
Mher Grigorian, a deputy CEO of Bank VTB Armenia, said Monday the process of the bank’s merger with VTB Leasing will be accomplished in a month.
YEREVAN, June 8, /ARKA/. Mher Grigorian, a deputy CEO of Bank VTB Armenia, said Monday the process of the bank’s merger with VTB Leasing will be accomplished in a month. Speaking at a news conference he said Bank VTB Armenia will handle all the leasing transactions that the Russia-based VTB Group planned to carry out in Armenia.
Mher Grigorian said ‘the cost of money and profitability of the capital have led to the necessity to group and do business on behalf of one entity.’ He said also the restructured large companies are getting increasingly reluctant to work with mediators.
Mher Grigorian said also the bank extended 8.8 billion Drams ($23.3 million) worth mortgage loans in the first quarter of 2010. Bank VTB Armenia CEO Valery Ovsyanikov said earlier the bank released last year $40 million worth mortgage loans.
Bank VTB Armenia is owned fully by Russian VTB Group. At the end of March 31, 2010 its assets totaled 125.6 billion Drams, liabilities-99.8 billion Drams, the aggregate capital stood at 25.8 billion Drams, the chartered capital was worth 13.9 billion Drams, credit investments totaled 82.5 billion Drams. The Bank also earned 670 million Drams in net profits. ($1- 377.74 Drams). -0-
Mher Grigorian said ‘the cost of money and profitability of the capital have led to the necessity to group and do business on behalf of one entity.’ He said also the restructured large companies are getting increasingly reluctant to work with mediators.
Mher Grigorian said also the bank extended 8.8 billion Drams ($23.3 million) worth mortgage loans in the first quarter of 2010. Bank VTB Armenia CEO Valery Ovsyanikov said earlier the bank released last year $40 million worth mortgage loans.
Bank VTB Armenia is owned fully by Russian VTB Group. At the end of March 31, 2010 its assets totaled 125.6 billion Drams, liabilities-99.8 billion Drams, the aggregate capital stood at 25.8 billion Drams, the chartered capital was worth 13.9 billion Drams, credit investments totaled 82.5 billion Drams. The Bank also earned 670 million Drams in net profits. ($1- 377.74 Drams). -0-
