YEREVAN, November 6. / ARKA /. The Russian-owned VTB Bank (Armenia) said its credit portfolio amounted to 215.876 billion drams at the end of September. According to a press release, in terms of credit portfolio size the bank was number one in Armenia.
The bank said lending to individuals surged by 25.5 %, or 16.605 billion drams from the beginning of the year to 81.809 billion drams. Loans to legal entities increased by 30.1 % from the beginning of the year to 134.067 billion drams.
The total lending to construction, food, agriculture, trade and commerce sectors amounted to 88.9 million drams.
The bank is also the leader in the market of corporate and retail services continuing to actively finance consumer lending, which grew to almost 63 billion drams in late September. The bank said it also increased lending to customers wanting to buy cars.
VTB Bank (Armenia) CEO Yuri Gusev was quoted as saying that good performance in lending was contributed by flexible crediting terms, a wide range of credit products, qualified personnel and individual approach to each client’s business.
VTB Bank (Armenia) is owned fully by Russian VTB Group. It runs 67 branches across Armenia, more than any other local bank. -0-
