"VTB" BANK ARMENIA ESTABLISHES HYPOTHEC CENTER IN YEREVAN

Panorama.am
15:41 29/04/2008

‘VTB’ Bank (Armenia) CJSC plans to establish hypothec specialized
center in Yerevan, said Valeri Ovsyanikov the chief director of VTB
Armenia, in a press conference held on today. He said that the mission
of the center is to improve the hypothec project level.

In the future when the construction and hypothec market are developed
in regions, the bank will establish common centers there.

According to Ovsyanikov, in the end of 2007 large scale increase in
hypothec figures was registered.

"But we do not want to stop on that and now we plan projects with our
colleagues," he said. In the future the bank is intended to increase
its hypothec portfolio and to occupy the first place in Armenian
hypothec market.