YEREVAN, November 23. /ARKA/. Loan repayment at VTB Bank (Armenia) proved to be more successful this year than a year earlier, Director General- Chairman of the Board of Directors at VTB Bank (Armenia) Yuri Gusev said in response to ARKA agency’s question.

He highlighted it refers not only to the corporate sector, but also the segment of individuals.

“If we speak of defaults, we mean the system. The system, which refers to the individuals, should pass some development process and become more sustainable. We have passed through this process in 2010-2011, and our repayment system works more successfully in either corporate or individuals sectors,” he said.

In this context, Gusev said this system allows to solve the repayment of troubled loans issue on a new level.

“We see the issues of repayment, sale of pledge are solved through absolutely different and improved approach, and due to this the bank shows the results announced today,” he said noting that “the level we have now, pleases us.”

In general, the 3rd Q credit portfolio of VTB Bank (Armenia) reports 140 billion drams. Lending to individuals rose 36.8% to 60.909 million drams from December 30, 2011. Lending to the corporate clients climbed 21.5% to 86.808 million drams.

VTB Bank (Armenia) became a member of VTB international financial group in April 2004.

Currently, it is fully owned by Russian VTB Bank, the second largest bank in Russia. It is listed in top banks in Armenia. It has 69 branches in Armenia as of 30 September. ($1 – 406.82 drams). -0