YEREVAN, June 23. /ARKA/. At its annual meeting of shareholders VTB Bank (PJSC) approved the new composition of the Management Board of its Armenian subsidiary VTB Bank (Armenia), the latter said in a press release.

It said the new members are Artur Javadyan and Mikhail Zaytsev. The corresponding decision of the sole shareholder N1 /2021 dated April 30, 2021 was published on the official website of VTB Bank (Armenia).

Artur Javadyan is now an Armenian Ambassador at Large, who served from 2012 to 2020 as Chairman of the Central Bank of the Republic of Armenia.

Mikhail Zaytsev is CFO for Medium and Small Corporate Businesses - Senior Vice President of VTB Bank.

The Management Board of VTB Bank (Armenia) currently comprises also Sergey Stepanov, Head of the Coordination Service of VTB Subsidiary Banks,

Ilnar Shaymardanov, Vice President, Head of Retail Business Development for VTB Subsidiaries,

Alexander Ter-Avanesov - Advisor to First Deputy President - Chairman of the Management Board of VTB, Senior Vice President of the Bank.

In addition, the labor contracts of the Chairman and members of the Board of Directors of VTB Bank (Armenia) were extended for another term (2 years),

Ivan Telegin, Director General- Chairman of the Board of Directors,

Sofia Machkalyan, Deputy Director General - Chairman of the Board of Directors,

Veronika Karapetyan, Risk Department Director,

Ara Avagyan, Corporate Business Development Director,

Vahagn Durgaryan, Chief Accountant.

The activities of VTB Bank (Armenia) CJSC are regulated by the Central Bank of the Republic of Armenia.

VTB Bank (Armenia) CJSC became a member of the international financial group VTB in April 2004.

Currently, the second largest PJSC VTB Bank in Russia owns 100% of shares of VTB Bank (Armenia). VTB Bank (Armenia) has 73 branches across Armenia, more than any other local bank.-0-