YEREVAN, April 29. /ARKA/. Assets of VTB Bank (Armenia) totaled AMD 119 billion in 2009 after growing 20.7% over that year, compared with the previous year, Valery Ovsyannikov, general director of VTB Bank (Armenia) and chairman of its directorial board, told journalists on Wednesday.

He said the bank’s credit portfolio reached 73.6 billion in 2009 after growing 3.9% over that year, its liabilities grew 24.5% to AMD 94 billion, total capital grew 5.3% to AMD 25.1 billion and net profit amounted to AMD 900 million after reducing 69.7%, compared with 2008.

Ovsyannikov said that in 2009, VTB Bank (Armenia) proved to be able to ensure effectiveness of investments in retail and corporate banking services in Armenia.

“Our shareholder, VTB Bank, continues providing necessary support to VTB Bank in Armenia. This support along with the , measures taken to control costs and risks, lets us continue our active work with clients, develop business, strengthen our market positions, be reckoned among leaders of Armenian banking system and remain one of the fast-growing subsidiaries of VTB Group,” he said.

He also said that despite 2009 has been not so easy year for the bank and the whole banking sector, achievements of VTB bank (Armenia) laid favorable groundwork for successful activity under economic growth in 2010.

VTB Bank Armenia (Armenian Savings Bank before June 2006) joined VTB Group in April 2004.

VTB holds 100% of shares of VTB Bank (Armenia).

The bank has 68 branches all over Armenia’s territory.

Of them, 24 are in Yerevan and 44 in provinces.

The number of the bank’s ATMs have grown to 58 and POS-terminals to 196 over 2009. ($1= AMD 386.85). --0—