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Arka News Agency, Armenia
Oct 27 2006
VTB BANK ARMENIA TO DEVELOP AS UNIVERSAL BANK
YEREVAN, October 27. /ARKA/. The "VBT Armenia Bank" will develop as a
universal bank, Senior Vice-President, VTB Board member Vasily Titov
told a press conference.
"This development of the Armenian bank of extreme importance, and we
hope it will be successful," he said. Titov added that to encourage
this process the VTB intends to increase the capital basis.
He stressed that the VTB attaches paramount importance to the
establishment of banks similar to the VTB Armenia in the post-Soviet
area and is consistently working in this direction.
Titov also reported that before the end of 2006 the VTB plans to make
decisions on the opening of banks in Kazakhstan, Belarus, Moldova,
Kyrghyztstan and Uzbekistan.
"The banks will form a network, which will enhance the efficiency of
all operations," he said.
In his turn, Alexander Vardanov, Board Chairman, VTB Armenia, pointed
out that the bank has its worthy place on Armenia's market of banking
services and services almost all Armenian-Russian operations.
Vardanov reported that the bank is actively working with both
individual and corporate clients, including companies working in the
energy, gas-supply and mining sectors.
"The bank is actively working with individuals, issuing mortgage and
car credits, and intends to expand its activities," Vardanov said.
On September 8, 2001, the RA Government made a decision on the
privatization of the Armsavingsbank by means of a direct sale to the
ARCH Limited consortium (Bahamas) and ÌIKA Armenia Trading.
Early in 2003, the stock was transferred to the ÌIKA Armenia Trading,
and in March 2004, in Yerevan, a contract was signed for the purchase
of 70% of the "Armsavingsbank" shares by the Russian VTB.
The authorized capital of the "VTB Bank Armenia" CJSC is currently
7,526.2mln, assets AMD 14.7bln or $109.4mln (on September 30, 2006),
total capital AMD 9.1bln ($23.9mln). In January-September 2006, the
bank's profit amounted to AMD 493.4mln ($1.3mln), and the balance
profit AMD 1.2bln ($3.1mln).
The VTB Bank Armenia is among the leaders as to the main indicators.
Specifically, it has the 4th largest assets, 5th largest volume of
individual crediting, 2nd largest volume of crediting legal entities,
3rd largest volume of funds attracted from clients and the amount of
individual fixed deposits, 2nd largest amount of individual call
deposits. As regards the total capital, the bank has the 4th largest
capital, and the 2nd largest authorized capital.($1 - AMD 379.84).
P.T. --0--
Oct 27 2006
VTB BANK ARMENIA TO DEVELOP AS UNIVERSAL BANK
YEREVAN, October 27. /ARKA/. The "VBT Armenia Bank" will develop as a
universal bank, Senior Vice-President, VTB Board member Vasily Titov
told a press conference.
"This development of the Armenian bank of extreme importance, and we
hope it will be successful," he said. Titov added that to encourage
this process the VTB intends to increase the capital basis.
He stressed that the VTB attaches paramount importance to the
establishment of banks similar to the VTB Armenia in the post-Soviet
area and is consistently working in this direction.
Titov also reported that before the end of 2006 the VTB plans to make
decisions on the opening of banks in Kazakhstan, Belarus, Moldova,
Kyrghyztstan and Uzbekistan.
"The banks will form a network, which will enhance the efficiency of
all operations," he said.
In his turn, Alexander Vardanov, Board Chairman, VTB Armenia, pointed
out that the bank has its worthy place on Armenia's market of banking
services and services almost all Armenian-Russian operations.
Vardanov reported that the bank is actively working with both
individual and corporate clients, including companies working in the
energy, gas-supply and mining sectors.
"The bank is actively working with individuals, issuing mortgage and
car credits, and intends to expand its activities," Vardanov said.
On September 8, 2001, the RA Government made a decision on the
privatization of the Armsavingsbank by means of a direct sale to the
ARCH Limited consortium (Bahamas) and ÌIKA Armenia Trading.
Early in 2003, the stock was transferred to the ÌIKA Armenia Trading,
and in March 2004, in Yerevan, a contract was signed for the purchase
of 70% of the "Armsavingsbank" shares by the Russian VTB.
The authorized capital of the "VTB Bank Armenia" CJSC is currently
7,526.2mln, assets AMD 14.7bln or $109.4mln (on September 30, 2006),
total capital AMD 9.1bln ($23.9mln). In January-September 2006, the
bank's profit amounted to AMD 493.4mln ($1.3mln), and the balance
profit AMD 1.2bln ($3.1mln).
The VTB Bank Armenia is among the leaders as to the main indicators.
Specifically, it has the 4th largest assets, 5th largest volume of
individual crediting, 2nd largest volume of crediting legal entities,
3rd largest volume of funds attracted from clients and the amount of
individual fixed deposits, 2nd largest amount of individual call
deposits. As regards the total capital, the bank has the 4th largest
capital, and the 2nd largest authorized capital.($1 - AMD 379.84).
P.T. --0--