YEREVAN, August 12. /ARKA/. A study conducted by the Institute of Political and Sociological Consulting (IPSC) in July in Armenia’s capital city of Yerevan and four provincial towns found the Russian-owned VTB Bank (Armenia) to be the most recognizable bank across the country, the Bank said in a press release today.

It was the fifth study by IPSC conducted every six months to find out the most recognizable bank in Armenia. The latest study embracing Yerevan and four major cities of Armenia involved 1,200 respondents.

The respondents were asked questions regarding the so-called Top of Mind awareness, a brand or specific product coming first in customers' minds when thinking of a particular industry. The study also included other questions allowing to reveal the overall situation regarding the image of Armenian banks, the level of customer confidence in them, etc.

"As in the previous study, VTB Bank (Armenia) was found to be leading in terms of Top of Mind awareness indicator. The bulk of respondents named this bank when asked to name an Armenia-based bank," according to the press release.

The study also revealed that the number of respondents with positive opinion about the bank increased by 2.9% compared with the previous six months. VTB Bank (Armenia) remains the leading bank by  number of customers using its mass  services who view it as the most reliable bank of the country. This indicator is 19.1%, almost 2 times higher than that of the nearest competitor.

"We are pleased to know that our bank is not only the most recognizable bank in Armenia, but also  is viewed as the most reliable bank,"  VTB Bank (Armenia) CEO, Yuri Gusev was quoted as saying.

According to Gusev, this is due to the effective application of new solutions in the field of marketing and PR, diverse products line, good after-sales services and the reformed branch network.

VTB Bank (Armenia) is the 100 percent subsidiary of Russian VTB Bank. It runs 67 branches in Armenia, more than in any other local bank. -0-