YEREVAN, February 22. /ARKA/. The retail business’s credit portfolio of the VTB Bank (Armenia) grew to 90 billion drams in 2017, Vladimir Verhoshinskyi, a member of the VTB Bank Management Board, said to a news conference today in Yerevan.

He said the portfolio of individual deposits grew to 115 billion drams, and the Loan to Deposits Ratio is very positive.

VTB Bank (Armenia) Retail Business Director Ivan Telegin explained that the loan portfolio should grow by 16% next year. "We predict that the market will grow by about 10%. This means that our growth will be higher, and the consumer lending will be significantly higher," he added.

Telegin said the Mobile Banking service launched last year is being used now by about 20,000 customers. In his words, this service will be used as a basis to new services and offers. He said also in less than six months, about 7% of daily transactions were taken to the remote 24-hour channel, which services 35% of transactions during non-business hours.

Another service, designed for clients, called Bank at Work was also launched last year "In essence, it means that it is not necessary to visit a bank branch in order to get our services, make a loan application or get advice. One just needs to dial his/her manager assigned to the company and the manager will come to the client at a convenient time and place.

In 2017, the bank launched another package service called "People of Business" for its key clients - employees of public companies, including ministries and law enforcement agencies, healthcare and education, IT companies, financial organizations and telecoms operators.

VTB Bank (Armenia) became a participant of the Russian VTB Group in 2004. Currently, VTB Bank, the second largest in Russia, owns 100% of VTB Bank (Armenia). It is one of the leading banks in Armenia in terms of many performance indicators. It runs 67 branches across Armenia, more than any other local bank. ($ 1 - 480.46 drams). -0-