YEREVAN, August 18. /ARKA/. The Russian-owned VTB Bank (Armenia) was named the best recognized bank in Armenia, the bank told ARKA,  citing the findings of a study conducted by the Institute for Political and Sociological  Consultations (IPSC). It was the third such study conducted by IPSC in a row. The latest survey was conducted in Yerevan and four major cities among 1,200 randomly selected respondents.

According to the press release, the respondents were asked questions concerning the parameters of the so-called Top of Mind, which is used  to gauge the level of spontaneous knowledge of the banks operating in the country.

The study also included other questions and variable data that allow revealing, in particular, the overall picture about the image of banks operating in Armenia and the level of trust in them. The study showed that VTB Bank (Armenia) was the leader in terms of Top of Mind, since it was named by the majority of respondents, which also has the largest indicator in the total spontaneous knowledge in regional centers, in the capital city and the country.

According to the bank’s acting CEO, Yuri Gusev, development of business strategy and branding includes regular research to determine the level of recognition of the bank in Armenia.
"The results of the study suggest that our bank, with the support of well-built advertising campaigns, conducts efficient work aimed at the development and introduction of new banking products, improvement of customer service, reformatting the branch network in accordance with the corporate style of VTB," he was quoted as saying. The error margin in the study is ± 2.81%.

VTB  Bank (Armenia) is fully owned by Russian VTB Group.   It has 69 branches across ASrmenia, more than any other bank. -0-