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VTB (ARMENIA) BANK TO CLOSE STEPANAKERT BANK, SAYS READY TO CONTINUE INVESTMENT PROGRAMS IN KARABAKH
ARKA
Sep 9, 2008
YEREVAN, September 9. /ARKA/. The VTB (Armenia) Bank plans to close
its branch in Stepanakert by late 2008, keeping up investment programs
in Karabakh, said Valery Ovsyannikov, general director of VTB Armenia.
"The bank optimizes the branch network to provide high-quality and
profitable services to customers," he added.
The bank was to cut down its branches to 75 (out of 100).
"Including the Stepanakert branch on the close-down list was purely
an economic process, the bank having to close low-profit branches,"
Ovsyannikov said.
According to the VTB General Director, the bank's customers in
Stepanakert will not lose anything, as a new bank comes to replace
VTB Armenia in Karabakh.
Ovsyannikov did not rule out possible reopening of the Stepanakert
branch.
To optimize the bank's network, the Supervisory Board of the bank has
decided to close down temporarily the bank's branches in Nor-Hatchn,
Yeghvard, Metsamor, Ashotsk and Stepanakert.
After optimization, VTB Armenia will have 41 universal branches (11
in Yerevan, 30 in regions), 34 mini-branches (20 in Yerevan and 14
in regions).
The VTB (Armenia) Bank (formerly Armsavingsbank) became VTB member
in April 2004. The Russian VTB is now the absolute shareholder of
the bank.
The authorized capital stock of the VT B (Armenia) Bank totals 13.9bln
drams. The bank's own capital reached 22.8bln drams on September
1. VTB Armenia is among the top three leading banks in the country
and ranks first in assets.
The Fitch International Ratings Agency upgraded in July the bank's
short term and long-term issuer ratings to B and BB+ respectively. The
bank's Outlook is Stable.
From: Emil Lazarian | Ararat NewsPress
ARKA
Sep 9, 2008
YEREVAN, September 9. /ARKA/. The VTB (Armenia) Bank plans to close
its branch in Stepanakert by late 2008, keeping up investment programs
in Karabakh, said Valery Ovsyannikov, general director of VTB Armenia.
"The bank optimizes the branch network to provide high-quality and
profitable services to customers," he added.
The bank was to cut down its branches to 75 (out of 100).
"Including the Stepanakert branch on the close-down list was purely
an economic process, the bank having to close low-profit branches,"
Ovsyannikov said.
According to the VTB General Director, the bank's customers in
Stepanakert will not lose anything, as a new bank comes to replace
VTB Armenia in Karabakh.
Ovsyannikov did not rule out possible reopening of the Stepanakert
branch.
To optimize the bank's network, the Supervisory Board of the bank has
decided to close down temporarily the bank's branches in Nor-Hatchn,
Yeghvard, Metsamor, Ashotsk and Stepanakert.
After optimization, VTB Armenia will have 41 universal branches (11
in Yerevan, 30 in regions), 34 mini-branches (20 in Yerevan and 14
in regions).
The VTB (Armenia) Bank (formerly Armsavingsbank) became VTB member
in April 2004. The Russian VTB is now the absolute shareholder of
the bank.
The authorized capital stock of the VT B (Armenia) Bank totals 13.9bln
drams. The bank's own capital reached 22.8bln drams on September
1. VTB Armenia is among the top three leading banks in the country
and ranks first in assets.
The Fitch International Ratings Agency upgraded in July the bank's
short term and long-term issuer ratings to B and BB+ respectively. The
bank's Outlook is Stable.
From: Emil Lazarian | Ararat NewsPress