YEREVAN, November 23. /ARKA/. Net profit of VTB Bank (Armenia) for the first nine months of this year amounts to AMD 3.2 billion.

The bank was the biggest profit-gainer among Armenian banks in Jan-Sept 2010.

“Our goal is to retain our position among three leading banks of Armenia on business indicators and fully implement our business strategy program,” Valery Ovsyannikov, director general and chairman of the bank’s directorial board, said Tuesday at a news conference.

He said that individuals’ deposits have grown 38.3% since the beginning of this year reaching AMD 31.3 billion by late September.

“Individuals’ loan portfolio grew 23.8% to AMD 29.5 billion,” he said.

The director general said that funds attracted from clients totaled AMD 51 billion and the bank’s profit from its main activity reached AMD 7.6 billion by late September after growing 43.3% in Jan-Sept, compared with the same period a year earlier.

“RoE and RoA were 16.1% and 3.7% respectively,” he said.

Ovsyannikov said that this year the bank provided its services to 236,000 individuals and more than 5,000 to legal entities – small, mid-scale and large businesses.
He also said that the number of payment cards issued by the bank rose 39% since the beginning of this year to 88,000 in late September.
VTB Bank (Armenia) had 58 ATMs in late September.

The bank also doubled the number of its POS terminals to 382.

Ovsyannikov said that VTB Bank (Armenia) decided to resume extending loans to individuals.

“Today the bank’s clients can take all the types of credits, including car, mortgage and repair loans or those intended for serving various consumer needs,” he said adding that the bank offers a new product – credit cards with grace period.

VTB Bank Armenia joined VTB Group in April 2004. VTB, the second largest bank of Russia, holds 100% of shares of VTB Bank (Armenia). VTB Bank (Armenia) has 68 branches all over Armenia’s territory. Of them, 24 are in Yerevan and 44 in provinces. ($1 = AMD 361.87). -0-