YEREVAN, August 26. / ARKA /. A study conducted by the IPM Research in Armenia’s capital city of Yerevan and four major cities (Vanadzor, Gyumri, Diljan and Armavr) found the Russia-owned VTB Bank (Armenia) to be the most recognizable bank across the country, the bank said in a press release today.

Some 1,200 people of different ages were surveyed randomly in July-August.  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 revealing the overall situation regarding the image of Armenian banks, the level of customer confidence in them, etc.

The results of the survey show that Top of Mind awareness indicator of VTB Bank (Armenia) is 19.3%, higher than of any other Armenia-based banks' indicator.  The study says that VTB Bank (Armenia) was indicated by the majority of respondents as the most reliable bank in the country. One of third of respondents said they were using the bank’s services.

The bank was found also the leader in terms of the Marketing Asset Index (MA index). The bank is generally described as reliable and steady with high quality services and competent personnel.
The satisfaction rate is higher than any other bank in Armenia may boast of.

"VTB Bank (Armenia) has been the most recognizable bank in Armenia for several years in a row. The results of the study show that the majority of customers when choosing a bank are having in mind not only the range of services, but also its stability and reliability.  We will work to maintain this leading position in order to meet the expectations and trust of our customers," VTB Bank (Armenia) CEO Yuri Gusev is quoted as saying in a press release.

VTB Bank Armenia is owned fully by Russian VTB Group. The bank runs 67 branches across the country, more than any other local bank.-0-