YEREVAN, March 25. /ARKA/. VTB Bank (Armenia) has invested more than $5 million over three years in improvement of its network of branches, Yuri Gusev, VTB Bank (Armenia) CEO and head of its directorial board, told journalists on Wednesday.

In his words, 2014 was not easy year for banks, and although that year's positive beginning and calm summer, it ended in fever at forex market.

But despite that, the bank has managed to complete all its projects, including infrastructural ones, which were components of its retail business development strategy, such as reformation of its network of branches.

«The bank's network of branches has changed a great deal over the last three years – another level of servicing and quality of services is reached and the range of products is changed and unified to sell up-to-world-standards products in new branches,» Gusev said.

VTB Bank (Armenia) has revamped technical equipment of its branches, introduces a system of controlling queues and installed payment terminals.

VTB Bank Armenia joined VTB Group in April 2004. VTB, the second largest bank of Russia, holds 100% of shares of VTB Bank (Armenia). VTB Bank (Armenia) has 67 branches all over Armenia’s territory - the largest branch network in the country. VTB Bank (Armenia) is reckoned among leaders for general indicators.

The bank's assets totaled AMD 379.6 billion in late 2014 after growing 25.6% over the year and liabilities AMD 334.8 billion after growing 26.3%. The bank built up its capital by 20.2% to AMD 44.7 in 2014. Its loan portfolio amounted to AMD 244.3 billion (11.6% growth). The bank earned AMD 777.14 million in profits in 2014 against AMD 5.6 billion in 2013. . ($1 – AMD 475.18). -0--