VTB BANK ARMENIA OPENS RENOVATED BRANCH IN MASIS

/ARKA/
November 2, 2009
YEREVAN

Last Friday VTB Bank Armenia opened a renovated branch in the town
of Masis. Mher Grigorian, a deputy director of VTB Bank Armenia,
said the branch in Masis is a key branch of the bank in Ararat Valley
offering a wide range of universal banking services to all its clients.

He said the main goal of the bank now is to upgrade all its regional
branches to make them comply with the latest standards both in terms of
security and business running. He said the Masis branch is furnished
with state-of-the-art computers, other special equipment and all
necessary communication means

Mher Grigorian said VTB Bank Armenia started a renovation program
two years ago having so far renovated nearly half of its branches.

He said the nearest plan is to renovate branches in Gyumri,
Noyemberyan, Vardenis and Dilijan. Cost of an average branch
reconstruction is 30 million Drams, he said.

The Masis branch has currently 4,000 customers, including private
and public organizations and individuals.

The ceremony was attended by mayor of Masis, senior officials of VTB
Bank Armenia and businessmen. All 100 percent of VTB Bank Armenia are
owned by the second largest Russian bank VTB Bank. VTB Bank Armenia
has 74 regional branches across Armenia, the largest regional network
of branches.