YEREVAN, October 26. /ARKA/. VTB Bank (Armenia) is to enter leasing market  of Armenia early next year, Yuri Gusev, General Director – Chairman of the Board of Directors at VTB Bank (Armenia), said Friday.

“We have already confirmed all the products, and currently we are testing and developing them more, and I think, we will enter the leasing market in January-February 2013,” he told journalists.
In this segment, the bank is focusing on electricity, transport and mining industry, according to Gusev.

“These companies have need for leasing of technology, and we are likely to concentrate on them, first of all,” he clarified. ‘

He also said the bank doesn’t orient itself to Russian companies only.
“We will have a wide vision into this market, and if we feel a potential- we will enter it,” he added.
As for  agro business Gusev said Rosselkhozbank (Russian Agricultural Bank), another Russian market member, is actively getting involved into the sphere.

“We think, our colleagues have rich experience in this sector, and if their strategy enables them to work in Armenia, they will be in charge of this sector.”
In accordance with the decision of Armenia’s Central Bank Chairman, JSC Russian Agricultural Bank’s Armenian office was registered in Armenia on 16 October 2012.

Gusev informed VTB Bank (Armenia) intends entering agricultural processing and agricultural export segment.
“I think, it is the future of Armenia. Agro production is like oil for Armenia, especially in the current situation,” he underscored.

On his side, head of subsidiary companies division, senior vice president at VTB Bank Mikhail Yakunin noted according to the Armenian legislature, leasing operations can be directly proceeded from VTB Bank’s balance; and this is what will be done.

As to the other segments, including insurance and pension, Yakunin noted VTB Bank will keep an eye on Armenia’s market development, and decide whether to enter this or that market depending on the rationality.

VTB Bank (Armenia) became a member of VTB international financial group in April 2004. Currently, it is fully owned by Russian VTB Group, the second largest bank in Russia. It is listed in top 3 banks in Armenia. It has 69 branches in Armenia, more than any other bank. -0