TWO ARMENIAN BANKS AMONG MOST CAPITALIZED BANKS IN CIS

ARKA
June 10, 2008

YEREVAN, June 10. /ARKA/. Two Armenian banks – VTB Bank (Armenia)
and AKBA Credit Agricole Bank – have been included in the hundred
most capitalized CIS banks whose assets exceed $100 million.

VTB Bank has been placed 45th and ACBA Credit Agricole 61st in the
Interfax Economic Analysis Center’s ranking published in Commersant
Newspaper.

The share of capital in these banks’ assets made 29.5% and 26.5%
by January 1, 2008.

According to Interfax, assets of VTB Bank (Armenia) totaled $230.1
million (364th place among other banks in Commonwealth of Independent
States) and capital $68 million (214th place) earlier this year.

Assets of ACBA Credit Agricole Bank totaled $263.7 million (330th
place) and capital $69.8 million (211).

In April, VTB Bank (Armenia) ranked tenth among Armenian banks for the
share of assets in capital (25.2%) and ACBA Credit Agricole Bank ninth
(25.82%).

22 commercial banks function Armenia.