YEREVAN, October 22. / ARKA /. CJSC VTB Bank (Armenia) and CJSC Ameriabank continue to expand cooperation in the joint operation of POS-terminals in the trade and customer service points.

Since the end of September 2009 a new agreement on cooperation between the two banks came into effect.

This creates the real prerequisites for the increase in the items of trade and services, equipped with the latest technology, providing additional comfort and the possibility of large sections of the population territory of Armenia, the press service of CJSC Bank VTB (Armenia) and CJSC Ameriabank.

"Under this agreement Ameriabank will use the services of VTB Bank's processing center in Armenia, in particular, for the acquiring of payment cards," the press release stated.

Bank VTB (Armenia) (Armsavingsbank before June 20 2006) joined the VTB Group in April 2004. Currently the bank VTB is the full owner of Bank VTB (Armenia) closed joint stock company.

By the end of March 2009, the bank’s assets had totaled 105.8bln Drams (7% increase against Q4 2008), credit portfolio – 74.2bln Drams (5% increase), total liabilities – 81.9bln Drams (9% increase), liabilities to clients – 33.3bln Drams, total capital - 23.9bln Drams, authorized stock – 13.9bln Drams; net losses were 136mln Drams in January-March 2009.

Ameriabankwas established in July 1992 on the basis of the Armenian branch of the USSR Vnesheconombank. On September 8, 1992, the Central Bank of Armenia issued a license to the bank.

TDA Holdings Limited, affiliate of the Russian Troika Dialog Investment Company, became the bank’s principal shareholder (96.15%) in August 2007. In May 2008 the bank was renamed Ameriabank.

Armenian Stock Exchange awarded a status of market-maker of the bonds of IMEX Group to Ameriabank on November 3 2008.

The bank’s assets grew by 65.1% up to 80.9bln Drams in the first quarter of 2009, which is a 3.8-time increase as compared with the same period of last year.

The bank’s liabilities were 60.4bln Drams in the first quarter of 2009 and total capital was 20.51bln Drams. Authorized stock totaled 18.2bln Drams by the end of the first quarter. The bank’s credit investments were 32.8bln Drams in the period with liabilities to clients totaling 53.8bln Drams.

Net profit after taxes amounted to 113.6mln Drams in January-March 2009 – an increase of 110.2% as compared with 54mln Drams in the beginning of the year. --0-