YEREVAN, January 29. / ARKA /. The Board of VTB Bank (Armenia) has appointed Alena Stratan and Armen Sargsyan as deputy chief executive officers. Before this promotion Alena Stratan served as head of a department overseeing bank risks and Armen Sargsyan served as head of operations department.

Both appointments were registered by the Central Bank, VTB Bank (Armenia) said.

VTB Bank (Armenia) CEO Yuri Gusev was quoted as saying in a press release that both appointments will help step up control and improve coordination of the bank’s units.

"Their high level of professionalism and rich management experience will make interaction between the bank’s units more flexible and effective that in turn will contribute to the further development of the bank," he said.

VTB Bank (Armenia) is a 100% subsidiary of Russian VTB Bank.  It operates 67 branches across
Armenia.

The bank’s assets grew by 25.6% last year to 379.6 billion drams; its liabilities grew by 26.3 percent to 334.8 billion drams; the capital grew by 20 percent to 44.7 billion drams; its credit investments grew by 11.6 percent to 244.3 billion drams. In 2014 the bank earned 777.14 million drams in profit, down from a profit of 5.6 billion drams earned in 2013.  ($1 – 475.56 drams). -0-