Bank VTB plans development of programs involving international financial institutes in Armenia
10.12.2007,
23:10
The Bank VTB plans to develop programs with the involvement of international structures in Armenia. Board Chairman, Bank VTB, Andrey Kostin reported that this is possible due to the development of investment services.
YEREVAN, December 10. /ARKA/. The Bank VTB plans to develop programs with the involvement of international structures in Armenia. Board Chairman, Bank VTB, Andrey Kostin reported that this is possible due to the development of investment services.
“Armenia can apply the experience of the task group for infrastructure projects, which started working with the RA Government to form conceptual approaches to the development of government and private partnership in infrastructure projects,” he said.
According to Kostin, the participation of private western banks and such banking structures as the European Bank for Reconstruction and Development (EBRD) can be viewed as a niche for the bank.
Chairman of the Directorate, Bank VTB (Armenia), Valery Ovsyannikov pointed out that the bank will participate in various international financing programs in Armenia, as well as actively involve European banks in programs of financing export and import.
“We are now at the stage of signing a agreement under a microcrediting program with the EBRD and we hope to release a number of new products in this field,” he said. Ovsyannikov also said that the bank and the EBRD reached an arrangement about additional financing of mortgage development.
“We are already offering new mortgage products to our clients, on terms more acceptable for the market,” he said.
The Bank VTB (Armenia) (formerly Armsavingsbank) was privatized through direct sale by the ARCH Limited Consortium (Bahamas) and MIKA Armenia Trading.
In April 2004, the Russian Foreign Trade Bank purchased 70%+1 shares of the Armsavingsbank. In July 2007, the Bank VTB (Russia) became full owner of the Vank VTB (Armenia).
By September 30, 2007, the bank’s balance profit had reached 1.99bln AMD, profit in January-September 2007 660.4mln. By September 30, 2007, the bank had issued 3bln mortgage credits. –0--
“Armenia can apply the experience of the task group for infrastructure projects, which started working with the RA Government to form conceptual approaches to the development of government and private partnership in infrastructure projects,” he said.
According to Kostin, the participation of private western banks and such banking structures as the European Bank for Reconstruction and Development (EBRD) can be viewed as a niche for the bank.
Chairman of the Directorate, Bank VTB (Armenia), Valery Ovsyannikov pointed out that the bank will participate in various international financing programs in Armenia, as well as actively involve European banks in programs of financing export and import.
“We are now at the stage of signing a agreement under a microcrediting program with the EBRD and we hope to release a number of new products in this field,” he said. Ovsyannikov also said that the bank and the EBRD reached an arrangement about additional financing of mortgage development.
“We are already offering new mortgage products to our clients, on terms more acceptable for the market,” he said.
The Bank VTB (Armenia) (formerly Armsavingsbank) was privatized through direct sale by the ARCH Limited Consortium (Bahamas) and MIKA Armenia Trading.
In April 2004, the Russian Foreign Trade Bank purchased 70%+1 shares of the Armsavingsbank. In July 2007, the Bank VTB (Russia) became full owner of the Vank VTB (Armenia).
By September 30, 2007, the bank’s balance profit had reached 1.99bln AMD, profit in January-September 2007 660.4mln. By September 30, 2007, the bank had issued 3bln mortgage credits. –0--
