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VTB Leasing plans to raise its credit portfolio to $10 million

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  • VTB Leasing plans to raise its credit portfolio to $10 million

    VTB Leasing plans to raise its credit portfolio to $10 million till the
    end of 2008


    2008-04-29 16:33:00

    ArmInfo. The Armenian subsidiary of the Russian VTB Leasing plans to
    raise its credit portfolio to about $10 million till the end of the
    year, exclusive of crediting of big projects, Director General,
    Chairman of Directorate of Bank VTB (Armenia) Valery Ovsyannikov told
    media Tuesday.

    'It is a not bad index for taking a proper position in the market of
    leasing services in Armenia given the fact that the market's potential
    is rather great', Valery Ovsyannikov said. He informed media that VTB
    Leasing is nearing completion in crediting big projects. He said the
    company is negotiating with some clients for supply of duplicating
    facilities. In addition, the company is negotiating with the government
    structures for import of medical equipment for hospitals. 'Leasing
    loans will be actually aimed at modernizing the fixed assets', he said.
    The company is currently negotiating also with big producers of
    aviation equipment. In particular, V. Ovsyannikov said, one of the big
    projects of VTB leasing is acquisition of aviation equipment, including
    SSJ-100 Sukhoi SuperJet by the national carrier of Armenia Armavia
    Company.

    VTB Leasing aims to reequip the dynamically developing enterprises in
    Armenia and make them more competitive through provision of an
    effective and accessible mechanism of acquisition and odernization of
    the capital stocks. The company's goal is to increase the clients of
    the subsidiaries of VTB leasing OJSC and VTB Group, on the whole, as
    well as to take the leading positions in the Armenian market of leasing
    services.

    VTB-Leasing OJSC is a universal leasing company, belonging to Bank VTB
    OJSC. The company's capital for 2007 totaled $146 million in accordance
    with IFRS, assets exceed $3.46 billion and net profit totaled 477.9
    million. VTB-Leasing has regional offices in 11 cities in the Russian
    Federation and subsidiaries in Ukraine, Cyprus, Belarus and Armenia.

    The Central Bank of Armenia registered VTB Leasing on March 28 2008. At
    present there are another two leasing companies in Armenia - ACBA
    leasing and AGRO Leasing with $12/2 million summary portfolio as of
    April 1 2008.
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