VTB bank (Armenia) to focus on retail business in its next 3-year strategy

30.09.2016 18:53
VTB bank (Armenia) to focus on retail business in its next 3-year strategy

YEREVAN, September 30. /ARKA/. VTB Bank (Armenia) is mapping out now its next three-year strategy in which the focus will be on the retail business, VTB24 Board chairman Mikhail Zadornov said to a news conference today in Yerevan.

"All the banks are working now in difficult conditions, and Armenian banks are no exception. We are now working out our next three-year strategy and only when we are through it we can say what our model will be," he said.

"I can say that we are satisfied with the development of our retail business in Armenia. The goal is to give additional impetus to the development of the bank in the retail market, as it is our main strong point. Our goal will be to win additional shares of the market both in lending and in attracting new deposits,"  he stressed.

VTB Bank (Armenia) was acquired entirely by Russian VTB in 2004. It runs 67 branches across the country, more than any other bank in Armenia.

The bank's assets in the first half of 2016 amounted to 278.3 billion drams, liabilities stood at 237.1 billion drams, capital – at  41.2 billion drams, credit investments –at 168 billion drams, the bank's losses amounted to 1.248. 7  billion drams. ($ 1 - 474.57 drams). -0-

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