HEAD OF VTB (ARMENIA) BANK: 80% OF BUSINESS-PLAN FOR 2008 FULFILLED

ArmInfo
2008-12-23 18:00:00

VTB (Armenia) bank has managed to fulfill 80% of business-plan for
2008, endorsed by the shareholder of the bank – Russian VTB, Director
General, Chairman of Directorate of CJSC VTB (Armenia) Bank Valeriy
Ovsyannikov told ArmInfo.

He also added that over the current year the bank managed to reach
excellent results on all the parameters. ‘We managed to ensure
minimal dynamics of growth by 150% and achieve good volumes’, –
Ovsyannikov said and added that final results will be made public
only after finishing audit at the first decade of the first quarter
2009. Touching on the plans of the bank for 2009, he said the bank
will try to preserve the positions occupied at the market.’I think
that next year such a big dynamics of growth will not be fixed’, –
Ovsyannikov said and added that next year the bank is going to draw
special attention at the quality of the crediting portfolio and risks.

‘I am sure next year will not be so simple for the corporative clients
of the bank as well as private borrowers. Stemming from this we are
already conducting the policy of limitation of the number of borrowers,
selecting the best ones’, – he said.

According to the Ranking of commercial bank prepared by ArmInfo,
as of 1 October 2008, total capital of VTB (Armenia) Bank amounted
to 23.2 bln AMD or $76.7 mln (the second position), assets – 98 bln
AMD or $324.4 mln (the 4th position), crediting portfolio – 74.7 bln
AMD or $247.1 mln (the second position). According to the results
of 9 months profit of the bank amounted to 2.4 bln AMD or $8 mln
(the 4th position).