NET PROFIT OF VTB BANK (ARMENIA) REACHES AMD 2.74 BILLION BY EARLY SEPTEMBER
ARKA
Sep 10, 2008
YEREVAN, September 10. /ARKA/. Net profit of VTB Bank (Armenia)
reached AMD 2.74 billion by early September after growing 85% in July
and August, 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 bet profit for the first half of 2008 was AMD 1.46
billion against 81 million at the same period of the previous year.
Ovsyannikov said that the bank’s net profit for the first quarter
2008 was AMD 625 million.
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)