Sun, 26 October
13.1 C
Yerevan
USD: 383.05 RUB: 4.73 EUR: 444.80 GEL: 141.19 GBP: 510.03

VTB Bank Armenia plans to ensure 15-20% growth of major indicators this year

YEREVAN, April 28, /ARKA/. VTB Bank Armenia plans to ensure a 15-20% growth of major indicators this year, Valery Ovsyanikov, its board chairman, said at a news conference today. According to him, the Russian-owned bank does not differ from other local commercial banks, being well capitalized in terms of risks and reserve possibilities

“On the other hand enjoying the support of Russian VTB Bank, that helps and will help us always, our financing capacities are greater,’ he said.

‘The main problem we are facing is what we call ‘quality’ corporate borrows. Risks have grown and many companies, first of all export-oriented are experiencing dire times,’ he said.

Valery Ovsyanikov said VTB Bank Armenia plans to reduce interest rates on deposits in US Dollars from 1.5 to 2%. According to him, current interest rates on deposits in Drams are quite attractive and despite the economic crisis and Dram’s devaluation, VTB Bank Armenia managed to attract new deposits in Drams both form individual and corporate clients.

VTB Bank Armenia (previously Armenian Savings Bank) was acquired in 2004 by Russian VTB Group. As of March 31, 2010 its total assets were worth 125.6 billion Drams, liabilities stood at 99.8 billion Drams, the total capital stood at 25.8 billion Drams, the chartered capital was worth 13.9 billion Drams, credit investments grew to 74.7 billion Drams, and the net profit in Q1 was 669.6 million Drams. It has 68 branches across Armenia.($1- 388.81 Drams).  -0-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Ranking of the most profitable banks in Armenia based on results of second quarter of 2025

ARKA news agency publishes the ranking of the most profitable commercial banks in Armenia based on the results of the second quarter of 2025.

The UAE instead of Europe : why Armenia needs to change its approach to crypto regulation – EXCLUSIVE

The Armenian Forum on Cryptocurrency Assets, organized by the Cilicia Business Club, was recently conducted in Yerevan.

Moody’s upgrades Converse Bank’s ratings

Moody's Ratings has upgraded Converse Bank CJSC's long-term local and foreign currency bank deposit ratings to Ba3 from B1, aligning the Bank’s rating with Armenia’s sovereign rating.

“We want the word ‘investor’ in Armenia to mean normality, not elitism” – Freedom Broker Armenia

ARKA news agency spoke with Freedom Broker Armenia Director Ovak Ovakimian about the transformation of investment thinking, company strategy and trust as an economic value.

LATEST NEWS

spot_imgspot_imgspot_img