YEREVAN, February 25. /ARKA/. VTB Bank (Armenia) has no intention to open new branches for the time being, but it will discuss the matter, if necessary, Valery Ovsyannikov, director general and chairman of the bank’s directorial board, said at a news conference on Friday.

“Our bank has the largest branch network in Armenia – we have 68 branches,” he said. “Our top-priority objective is to improve all our branches and make them up to our brand and service quality. We are not planning to open new branches for the time being, but if a new business appears in Yerevan or provinces, we will consider the matter.”

Now VTB Bank (Armenia) focuses its efforts on development, introduction of up-to-date technologies and improvement of services, as Ovsyannikov said.

On Friday, VTB Bank (Armenia) moved its mini branch in Hrazdan to a new building as part of the retail business development program for 2011.

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.

VTB Bank (Armenia) is traditionally reckoned among leaders for general indicators.

According to ARKA News Agency’s data, the bank’s assets totaled AMD 127.4 billion and liabilities AMD 98.0 billion in late December 2010.

The bank’s total capital amounted to AMD 29.4 billion and authorized capital AMD 13.9 billion.

Its loan portfolio reached AMD 80.7 billion and liabilities to clients AMD 56.8 billion by late December.
VTB Bank (Armenia), with its full-year net profit of AMD 4.3 billion, was the second largest profit-gainer among Armenian banks in 2010. ($1 = AMD 365.71). --0---