VTB Bank (Armenia) portfolio of loans to small businesses may reach AMD 16-18 billion later this year
23.11.2012,
17:06
VTB Bank (Armenia) expects its portfolio of outstanding loans extended to small businesses will amount to 16 to 18 billion drams later this year, Yuri Gusev, VTB Bank (Armenia) CEO and chairman of the bank’s directorial board, said Friday at a news conference.
YEREVAN, November 23. /ARKA/. VTB Bank (Armenia) expects its portfolio of outstanding loans extended to small businesses will amount to 16 to 18 billion drams later this year, Yuri Gusev, VTB Bank (Armenia) CEO and chairman of the bank’s directorial board, said Friday at a news conference.
He said that the bank’s outstanding portfolio of loans extended to small business amounted to 12 billion by late September. He said the portfolio has undergone positive structural changes since the beginning of this year – the share of lending to small businesses grew here.
“We are increasingly entering the classical small business, and those products we will offer to clients the next year will enable us to build up this portfolio,” Gusev said.
All the outstanding loan portfolio of VTB Bank (Armenia) amounted to AMD 140 billion by the end of the third quarter. Loans extended to individuals totaled AMD 60.909 million after growing 36.8% since December 30, 2011.
The bank’s loan portfolio of corporate clients has grown since late December 2011 to AMD 86.808 million by late September 2012.
“I would stress that we are effectively developing both our retail block and our lending to large and mid-scale businesses,” Gusev added.
VTB Bank Armenia (Armenian Savings Bank before June 2006) 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 69 branches all over Armenia’s territory. VTB Bank (Armenia) is traditionally reckoned among leaders for general indicators. -0-
