YEREVAN, February 22. /ARKA/. VTB Bank (Armenia) has announced a new ambitious development strategy.

Vladimir Verkhoshinsky, a VTB Bank board member sand the chairman of the board of VTB Bank (Armenia) CJSC, speaking Wednesday at a news conference, said the strategy of high-quality, profitable and effective growth had been discussed with the bank’s team and the necessity of active business development in Armenia’s territory by applying the universal bank model has been pointed out.

“This will be an ambitious and motivated task for the staff and the result able to generate significant profits for the bank,” he said.

The First Bank in Armenia

Verkhoshinsky said that there is an excellent groundwork for that and support from the managers and that there are no obstacles in the bank’s ambitious goal to build up its business at least twice in the next couple of years.
“We want the slogan ‘The First Bank in Armenia’ to be set as basis to our strategy in all senses, including the sizes of businesses, significance of the business, advanced technologies, the team competence, attractiveness as employer, development pace and profitability,” he said. “I think this is within VTB Bank (Armenia) scope of abilities.”

The Basis of the Strategy

VTB Bank (Armenia) CJSC CEO Yury Gusev, on his side, said that the key objective in 2017 was to lay technical, management and human resources groundwork for building the business that would develop under the management of a new CEO in 2018 and 2018.

“This groundwork allows taking on the most ambitious goals, and I think that it can be said for sure that the slogan ‘The First Bank in Armenia’ is the very goal to which the VTB Bank (Armenia) team aspires,” he said.

Introduction of New Services and Plans

Retail Business Department Head at VTB Bank (Armenia) Ivan Telegin spoke about the planned improvement of services quality and introduction of a number of new services.

“For that, we are reorganizing our claim center and creating a unit in charge of the client servicing quality, which we find very important,” he said. “We are creating new remote servicing channels. In 2017, we created and commissioned our mobile bank and now intend to develop additional services on its basis.”

Telegin also said that some 35 automatic service zones are planned to be opened in 2018 to make it possible not only to provide mobile banking to clients, but also to serve them in 24/7 mode.

“We also intend to issue World Black Edition premium cards,” Telegin said. “In fact, this service will be available already in March for the bank’s premium clients. Besides, we have major plans for developing our mortgage and car lending. This will be top-priority focuses in 2018.”

VTB Bank Armenia (Armenian Savings Bank before June 2006) 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.

On February 21, the directorial board of VTB Bank (Armenia) CJSC decided to recommend Retail Business Department Head at VTB Bank (Armenia) Ivan Telegin to the post of the VTB Bank Armenia CEO.

His predecessor, Yury Gusev, is quitting office in Armenia and continue his career in Russia as head of Moscow business of Bank Otkritie. -0----