YEREVAN, June 7. /ARKA/. Assets of VTB Bank (Armenia) have grown 5.6% since late 2009 and reached AMD 125.6 billion by late March 2010, Yuri Gusev, chief of the bank’s financial division, said Monday at a news conference.

“The growth was mainly due to loans extended to individuals, since our outlooks for the market of lending individuals are more optimistic than those a year earlier. We are actively dealing with these clients,” he said.

Gusev said that individual loans amounted to about AMD 28 billion in the 1st Q 2010 against AMD 23.8 billion at the 4th Q 2009 (17.4% growth), and loans for legal entities totaled AMD 50.8 billion against AMD 49.8 billion (2.2% growth).

He said that the bank’s credit portfolio has grown 6.7% mainly thanks to commercial financing and other credits extended to legal entities and individuals.

The credit portfolio of VTB Bank (Armenia) totaled AMD 82.5 billion in Jan-March 2010 against AMD 77.3 billion at the fourth quarter of the previous year.

Gusev said that legal entities’ share in the bank’s liabilities has grown 21.9% and individuals’ 13.2% over the 1Q 2010, and the bank’s assets have shrunk 11.3%.

Legal entities’ deposits in the bank totaled AMD 37.1 billion in the 1st Q 2010 against AMD 30.4 billion in the 4th Q 2009, those of individuals amounted to AMD 25.6 billion against AMD 22.6 billion, and banks’ AMD 34.9 billion against AMD 39.3 billion.

As a whole, attracted means have grown 6.3% from AMD 93.9 billion in the 4th Q 2009 to AMD 99.7 billion in the 1st Q 2010.

Gusev said that the bank has reached this growth thanks to increase in legal entities’ demand deposits that totaled AMD 20.7 billion in late March 2010 against AMD 19.5 billion in late December 2009.

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 has grown to 58 and POS-terminals to 196 over 2009. ($1= AMD 77.74). --0--