Thursday, May 31 2018 16:06

ArmInfo.The retail credit portfolio of VTB Bank (Armenia) by the end of May 2018 exceeded AMD 100 billion, having increased by less than one year and a half by 22  billion AMD.

As the press service of the Bank reports, this testifies to the high  efficiency of the credit policy pursued by the bank.

Since the beginning of 2018. The Bank continued to strengthen its  position in the retail lending segment, thereby increasing the loan  portfolio from the beginning of the year to 11% today, and compared  to the same period in 2017 providing an increase of 27%.

"VTB Bank (Armenia) continues to occupy leading positions in the  banking market of Armenia, actively developing its product line and  making credit products more accessible to customers. The Bank pays  special attention to lending to individuals. this particular  direction has a special significance for the social and economic  development of the population, "the Bank reported.

According to the source, the system of crediting of the population  developed by VTB Bank (Armenia) is conditioned by its goals and needs  and is primarily aimed at creating conditions and opportunities for  fulfilling the needs of each citizen in such matters as buying,  building and repairing housing, training, purchasing goods for  consumer needs, etc.  According to the Financial Rating of Armenian  Banks as of April 1, 2018, prepared by IC ArmInfo, VTB Bank (Armenia)  is one of the top three with a volume of 92.9 billion drams ($ 193.5  million), with annual growth of 18.4%. In the total loan portfolio of  the bank, the retail share reaches 55%. In the total volume of retail  lending, the share of VTB Bank (Armenia) is 11% on the market. On  consumer loans, the Bank took the lead - 80.2 billion drams ($ 167.1  million) or 49% in the loan portfolio of the bank. On an annual  basis, VTB Bank (Armenia) increased the volume of consumer loans by  26.3%. In the total volume of consumer lending, the share of VTB Bank  (Armenia) in the market exceeds 13%.  VTB Bank (Armenia) CJSC became  a participant in the international financial group VTB in April 2004.   At present, VTB Bank, the second largest bank in Russia, owns 100% of  VTB Bank (Armenia). The Bank is traditionally one of the leaders of  the banking system of the Republic of Armenia in terms of key  indicators. The branch network of VTB Bank (Armenia) covers 67 units  with presence both in the capital and in all regions of the country.