YEREVAN, June 8. /ARKA/. Problematic loans made up 6.5% of the credit portfolio of VTB Bank (Armenia) in Jan-March 2010, Mher Grigoryan, a member of the bank’s directorial board, said at a news conference on Monday.

“Now this figure is smaller,” he said adding that this indicator has been lowering since January by 1.5% every month.

Grigoryan also said that problematic retail loans in the bank’s credit portfolio made up about 10% in late March and is expected to reduce to 7% by late June.

“We see absolutely no problems in this sector,” he said.

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.

The bank’s assets totaled AMD 125.6 billion, liabilities AMD 99.8 billion and credit investments AMD 82.5 billion in late March 2010.

The bank’s total capital amounted to AMD 25.8 billion and authorized capital AMD 13.9 billion.

Its net profit was AMD 670 million in late March. ($1= AMD 377.74). ----0---