Mon, 28 July
27.1 C
Yerevan
USD: 383.94 RUB: 4.85 EUR: 450.25 GEL: 141.78 GBP: 516.63

Loan repayment system successful at VTB Bank (Armenia)- CEO Gusev

YEREVAN, November 23. /ARKA/. Loan repayment at VTB Bank (Armenia) proved to be more successful this year than a year earlier, Director General- Chairman of the Board of Directors at VTB Bank (Armenia) Yuri Gusev said in response to ARKA agency’s question.

He highlighted it refers not only to the corporate sector, but also the segment of individuals.

“If we speak of defaults, we mean the system. The system, which refers to the individuals, should pass some development process and become more sustainable. We have passed through this process in 2010-2011, and our repayment system works more successfully in either corporate or individuals sectors,” he said.

In this context, Gusev said this system allows to solve the repayment of troubled loans issue on a new level.

“We see the issues of repayment, sale of pledge are solved through absolutely different and improved approach, and due to this the bank shows the results announced today,” he said noting that “the level we have now, pleases us.”

In general, the 3rd Q credit portfolio of VTB Bank (Armenia) reports 140 billion drams. Lending to individuals rose 36.8% to 60.909 million drams from December 30, 2011. Lending to the corporate clients climbed 21.5% to 86.808 million drams.

VTB Bank (Armenia) became a member of VTB international financial group in April 2004.

Currently, it is fully owned by Russian VTB Bank, the second largest bank in Russia. It is listed in top banks in Armenia. It has 69 branches in Armenia as of 30 September. ($1 – 406.82 drams). -0

spot_img

POPULAR

Fitch expects inflation in Armenia to remain within the target level until 2027

International rating agency Fitch expects inflation in Armenia to remain within the target level until 2027, although soft fiscal policy and the projected moderate weakening of the dram create certain risks.

Fitch forecasts Armenia to tighten fiscal policy after 2027

Fitch Ratings analysts forecast a tightening of fiscal policy by the republic's authorities in a new report on Armenia.

A scheme for stealing funds through fake investment platforms  exposed in Yerevan

A criminal group operating in one of the capital's business centers and stealing citizens' money through Internet calls has been exposed in Armenia, the Investigative Committee of Armenia reports.

Armenia’s economy to stabilize on 5.5% growth trajectory in 2025 – EDB forecast

According to EDB forecasts, Armenia's economy will stabilize on a 5.5% growth trajectory with domestic demand remaining the main driver of development.

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

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

LATEST NEWS

spot_imgspot_imgspot_img