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VTB Bank (Armenia) Tops The List Of Banks By Size Of Lending In Thir

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  • VTB Bank (Armenia) Tops The List Of Banks By Size Of Lending In Thir

    VTB BANK (ARMENIA) TOPS THE LIST OF BANKS BY SIZE OF LENDING IN THIRD QUARTER OF 2014

    YEREVAN, October 27. / ARKA /. VTB Bank (Armenia) was the leading
    bank in the country in terms of credit investments in the third
    quarter of 2014 with a loan portfolio growing to 224.3 billion drams,
    an increase of 3.3 percent compared with the beginning of the year.

    The Russian-owned bank accounted for 11.8 percent of the overall
    lending provided by all the banks in the third quarter.

    "VTB Bank (Armenia) continues to fund construction, food and
    agriculture sectors, as well as trade and commerce, developing
    concurrently POS-lending, mortgage and car loans," the bank said in
    a press release.

    Besides, the bank's assets in the third quarter grew by 2.2 percent
    from the beginning of the year to about 306 billion drams, the press
    release says.

    VTB Bank (Armenia) CEO Yuri Gusev was quoted as saying that improvement
    of loan products, facilitation of customer access to bank resources,
    flexible and wide range of loan products have been instrumental in
    achieving good indicators.

    VTB Bank (Armenia) is owned fully by Russian VTB Bank. It runs 67
    branches across Armenia, more than any other local bank.

    The bank's liabilities as of October 1, 2014 stood at 260.8 billion
    drams and its capital - at about 45.6 billion drams. In the third
    quarter it earned 870.8 million drams in net profit, by 78% less from
    the year before. ($ 1 - 409.29 drams). -0

    http://arka.am/en/news/business/vtb_bank_armenia_tops_the_list_of_banks_by_size_of _lending_in_third_quarter_of_2014/#sthash.ViUMWI34.dpuf

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