Bank VTB (Armenia) to invest $4 million in development of branch network and it platform
20.04.2012,
19:43
The Russian-owned Bank VTB (Armenia) is going to invest approximately $4 million this year into reforming and upgrading its branch network.
YEREVAN, April 20. /ARKA/. The Russian-owned Bank VTB (Armenia) is going to invest approximately $4 million this year into reforming and upgrading its branch network.
Half of that amount will be spent on development of an IT platform and human resources development, Mikhail Zadornov, chairman of Russian Bank VTB 24 , said at a news conference today in Yerevan.
According to Bank VTB (Armenia), its net profits in 2011 amounted to 1.67 billion drams. The bank's assets soared by 39.2% to 177.5 billion drams, and the total loan portfolio grew by 45.1% to 128 billion drams.
Mr. Zadornov said VTB Bank (Armenia) is an extremely promising market.
"It has a large customer base that now has reached 280,000 people, and we are going to invest in VTB Bank (Armenia) because we have great hopes with our Armenian bank,’ he said.
"Ultimately, our goal is simple: the citizens of Armenia in their country or when traveling in Russia, the United States and Europe, should receive the most advanced products at reasonable prices. Step by step we will move along this path," he explained.
VTB Bank (Armenia) is fully owned by Russian financial group VTB. It operates 68 branches in Armenia. -0-
