Arka News Agency, Armenia
Oct 27 2006

RUSSIAN VTB MAY PURCHASE 30% OF VTB BANK (ARMENIA)

YEREVAN, October 27. /ARKA/. The Russian Vneshtorgbank does not rule
out the possibility of purchasing 30% of shares of the Bank VTB
Armenia, VTB Senior Vice-President Vasily Titov told reporters. "We
are considering the proposal of the owner of the 30% of the VTB
(Armenia) shares for the sale of his shares to us," he said.
According to Titov, the evaluation process is under way. "I am sure
that we will reach an agreement on the term and prices," he said.
As a result, the VTB will be the holder of 100% of shares of the VTB
Bank Armenia.
On September 8, 2001, the RA Government made a decision on the
privatization of the Armsavingsbank by means of a direct sale to the
ARCH Limited consortium (Bahamas) and ÌIKA Armenia Trading.
Early in 2003, the stock was transferred to the ÌIKA Armenia Trading,
and in March 2004, in Yerevan, a contract was signed for the purchase
of 70% of the "Armsavingsbank" shares by the Russian VTB.
The authorized capital of the "VTB Bank Armenia" CJSC is currently
7,526.2mln, assets AMD 14.7bln or $109.4mln (on September 30, 2006),
total capital AMD 9.1bln ($23.9mln). In January-September 2006, the
bank’s profit amounted to AMD 493.4mln ($1.3mln), and the balance
profit AMD 1.2bln ($3.1mln).
The VTB Bank Armenia is among the leaders as to the main indicators.
Specifically, it has the 4th largest assets, 5th largest volume of
individual crediting, 2nd largest volume of crediting legal entities,
3rd largest volume of funds attracted from clients and the amount of
individual fixed deposits, 2nd largest amount of individual call
deposits. As regards the total capital, the bank has the 4th largest
capital, and the 2nd largest authorized capital.($1 – AMD 379.84).
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