YEREVAN, June 7. /ARKA/. Liquidity surplus has triggered unprecedented intensification of competition among corporate clients in Armenia, Mher Grigoryan, deputy director general of VTB Bank (Armenia), said at a news conference on Monday.

“I have been working in the banking system for 14 years, and I’ve never seen such a competition in corporate sales in Armenia,” he said.

He said that the first quarter of 2010 was the most competitive.

Grigoryan didn’t rule out further growth of competition.

He said that it became difficult to attract a good client because of a great number of lucrative offers.
“Today good clients have a greater number of offers from banks than they had one and a half years ago. We think each of good clients has at least five offers to consider.”

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. --0--