Wednesday, March 25 2015 18:39

In 2014 VTB Armenia strengthened its positions in retail business. At a March 25 press conference Bank CEO Yury Gusev said that over the previous year the bank had increased retail indicators and had kept its leading position card turnover. The banks is second in retail lending to individuals (almost 104 billion AMD in 2014). 

"2014 was a tough year for the banking system - with a smooth start and a stormy end that was marked by the high exchange market volatility and clients' payability variations. Despite that we managed to stregthen our positions in retail business", he said. 

He informed that as for March 1 2015 the bank has the leading position in the total of international cards - Visa and MasterCard - with the market share of 31%. "In 2014 the bank started actively cooperating with MasterCard. We keep working with Visa and MasterCard - introducing the market new products and interesting offers". Gusev mentioned that in 2015 the bank would keep developing the system of money transfer. VTB is planning to join 2 new systems - that will broaden the transfer implementing possibility.  "Compared to 2014 the bank's market share has increased from 7.9% to 11.1%. This year the bank is also participating in the government project on tax indemnity to the customers who have real estate loas". 

Vsevolod Smakov, the bank Vice-President, said that the bank reached a significant progress in the retail business development. "Adhering to the planned strategy allows VTB bank to reach its aims and maintain its positions in the Armenian banking market. We see that our Armenian colleagues manage to wisely adhere to the strategy. They make allowances according to the economic situation development and reacting to the market's challenges. We consider VTB bank efforts as an experience source for other VTB group

banks", he said. 
To note, VTB Armenia Bank became a member of the international VTB group in 2004. The bank is on the list of the leading banks in Armenia.