CREDIT PORTFOLIO OF BANK VTB (ARMENIA) GROWS BY 72% TO 70BLN DRAMS BY END 2008
ARKA
Jan 21, 2009
YEREVAN, January 21. /ARKA/. Credit portfolio of Bank VTB (Armenia)
grew by 72% up to about 70bln Drams by the end of 2008, General
Director of Bank VTB (Armenia) closed joint stock company Valery
Ovsiannikov told a press conference at Novosti International Press
Centre.
Loans extended to legal entities grew by 69.4% up to 39.1bln Drams,
while total volume of credits to individuals increased by 76% up to
31bln Drams.
Funds obtained from clients went down almost 0.6bln Drams to 27bln
Drams by the end of 2008. Funds obtained from legal entities decreased
by 1.8bln Drams to 10.14bln Drams with funds from individuals having
increased by 1.2bln Drams to a total of 16.3bln Drams.
On the whole, all indicators recorded a considerable growth last
year and 2008 can be considered a very positive year for the bank,
Ovsiannikov said.
Bank VTB (Armenia) (Armsavingsbank before June 20 2006) joined the
VTB Group in April 2004. Currently the bank VTB is the full owner of
Bank VTB (Armenia) closed joint stock company.
The share capital of the bank was 13.9bln Drams, total capital 23.9bln
Drams as of the end of December 31. The bank’s assets totaled 99.2bln
Drams with net profit amounting to 2.9bln Drams in January-December
2008.