SCR director general awarded former head of “Bank VTB (Armenia)” for his contribution of development of Russian business in Armenia

14.02.2012 19:08
SCR director general awarded former head of “Bank VTB (Armenia)” for his contribution of development of Russian business in Armenia

YEREVAN, February 14. /ARKA/. By the decree of former CEO of “South-Caucasian Railways” (SCR) Shevket Shaydullin, former General Director-Chairman of Board of Directorate of “Bank VTB (Armenia) Valeri Ovsyannikov was awarded an honored certificate, press-service of SCR informed on Tuesday.

Ovsyannikov was awarded a certificate for his large contribution in the development of interstate relations and Russian business in the Republic of Armenia.

During the awarding ceremony Shaydullin thanked Ovsyannikov for fruitful cooperation, as well as joint work in the financial market and strengthening of Armenian-Russian business relations.

Valeri Ovsyannikov was appointed on the post of General Director-Chairman of Board of Directorate of “Bank VTB (Armenia) in March 2007.

During his management was carried out a serious work on modernization of the “Armenian” daughter of VTB and its transformation into a modern universal bank. The branch network of the Bank was also optimized and radically changed (over 100 branches throughout the territory of the country inherited to the Bank VTB by “Armsavingsbank”).

During the last four years of its activity, assets of the “Bank VTB (Armenia) increased 2.6 times and by the end of December 2011 made 179.1 billion drams, liabilities increased 3.1 times – to more than 152 billion drams, and the capital increased 1.5 times to 30.5 billion drams. Profit of the Bank in 2011 exceeded 4.5 billion drams which is 5.7 times more than the indicator in 2007.

The Bank actively participated in very important social events in Armenia, also under the auspices of the Embassy of Russian Federation in Armenia, targeted at the support of Russian language, culture and art. The Bank traditionally provides sponsorship and charity support to orphanages, Russian Theater and Russian school in Yerevan. The sport team of the Bank has achieved success many times in all the Spartakiads of VTB Group.

CJSC “South-Caucasus Railway” is a 100% subsidiary of OJSC “Russian Railways” implementing concession management of CJSC “Armenian Railways” according to the Concession Agreement signed on February 13, 2008. Term of the concession is 30 years with the right of extension for another 10 years. -0 -


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