YEREVAN, March 25. / ARKA /. VTB Bank (Armenia) earned over one billion drams in net profit last year from its retail businesses, the bank’s CEO Yuri Gusev, told a news conference today.
According to him, the past year appeared to be very positive for the bank given the economic situation in the country.

He said the bank’s plans for 2015 include among other things an active lending and promotion of its banking products designed specifically for individual customers. Other priorities are development of remote channels, new products and improvement of services.

"We understand that this business earns us money; we have a large customer base and this business in Armenia is interesting to us,’ said Gusev.

Vsevolod Smakov, vice-president of VTB Bank 24, praised the Armenian subsidiary for making significant progress in recent years in the development of retail businesses.
VTB Bank (Armenia) is a 100% subsidiary of Russian VTB Bank. It runs 67 branch offices throughout Armenia, more than any other local bank.

The bank’s assets in late 2014 stood at 379.6 billion drams (a 25.6% year-on-year increase); its liabilities were worth 334.8 bln drams (26.3% growth), total capital stood at 44.7 bln drams (20.2% growth), loan investments – were worth about 244.3 bln drams (11.6% increase). The 2014 profit of the bank amounted to 777.14 mln drams, as compared to 5.6 bln drams in 2013. ($1 – 475.18 drams). —0-