TOTAL ASSETS OF VTB BANK (ARMENIA) AMD 113.15 BILLION IN 1ST HALF OF 2008

ARKA
Sep 10, 2008

YEREVAN, September 10. /ARKA/. Assets of VTB Bank (Armenia) totaled AMD
113.15 billion in the first half of 2008, while at the same period of
the previous year they amounted to AMD 69.136, Valery Ovsyannikov,
director general of the bank, said at a press conference held in
Novosti International Press Center on Monday.

He said the bank’s total assets reached AMD 84.85 billion by the
beginning of the second quarter 2008.

Ovsyannikov said that thanks to that growth, the bank progressed
from the fourth to first position in Armenian banking system and won
convincing leadership on this indicator.

He said that VTB Bank (Armenia) is also among top three banks on
important indicators such as total liabilities – AMD 91.7 billion
(the second position) and attracted financial means – AMD 38.5 billion
(the third position).

The bank’s liabilities totaled AMD 48.4 billon by late June 2007,
while in the first quarter of this year they reached 63.5 billion.

VTB Bank (Armenia) (Armenian Savings Bank before June 20, 2006)
became a participant of VTB Group in April 2004.

VTB Bank holds 100% of stocks of VTB Bank (Armenia).

Authorized capital of VTB Bank (Armenia) is AMD 13.9 billion and own
capital reached AMD 22.8 billion by early September.

The bank is reckoned among three largest banks of Armenia on key
indicators.

VTB Bank (Armenia) is the biggest asset owner among banks in Armenia.

The bank has 80 offices all over the country.

In July 2008, the bank received "B" short-term and "BB+" long-term
issuer ratings from Fitch Ratings international rating agency. Forecast
on the long-term rating is "Stable". ($1 – AMD 301.11)