VTB Bank (Armenia) resumes accepting VTB-express time deposits

YEREVAN, September 19. /ARKA/. VTB Bank (Armenia) has decided to resume
accepting VTB-Express short-term deposits (from 15 to 90 days) from
individuals at high interest, the press office of the bank reports.

The bank will accept these deposits from September 15 till October 15.

Valery Ovsyannikov, director general of VTB Bank (Armenia) and chairman
of the bank’s directorial board, commenting on the decision, said that,
as a rule, the bank makes such decisions after careful analysis of
developments on services market.

The bank takes into account demand and supply, probable risks and its
business interests.

Such an approach has already produced certain results.

This is well-tested scheme.

As successful example, Ovsyannikov pointed out a holiday offers
`VTB-Victory’ and `VTB-Childhood’ deposits.

VTB Bank (Armenia) CJSC (Armenian Savings Bank before June 20, 2006)
joined VTB Group in April 2004.

Now VTB Bank holds 100% of the bank’s shares.-0–