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VTB GROUP BECOMES 100% SHAREHOLDER OF VTB BANK (ARMENIA)
ARKA News Agency, Armenia
July 25 2007
YEREVAN, July 25. /ARKA/. The VTB Group became 100% sole shareholder
of the "VTB Bank (Armenia)" CJSC.
The Bank's General Director, Chairman of the Board of Directors Valery
Ovsyannikov said that on July 25, 2007, the VTB Group obtained the
remaining 30% minus one share from "Mika Armenia Trading" Ltd, thus
becoming the sole shareholder of its affiliate company in Armenia -
VTB Bank (Armenia).
According to Ovsyannikov, this deal should be treated as a positive
factor, which first of all gives an opportunity to VTB Bank to have
100% for managing the bank, and, second, it will allow making the
next step towards increase of bank's capital.
The VTB Bank (Armenia) CJSC (former Armsavingsbank) was established
in 1923. Before 1993, it was a part of the USSR State Savings Bank,
then it started operating as a specialized Savings Bank of Armenia.
In September 2001, ARCH Limited Consortium [the Bahamas] and ÌIKA
Armenia Trading privatized the "Armsavingsbank" by direct sale. In
April2004, the Russian "Vneshtorgbank" purchased 70%+1 shares of the
"Armsavingsbank".
According to the official balance data, as of June 30, 2007,
the total capital of the VTB Bank (Armenia) made AMD 9.4bln, the
authorizes capital - AMD 7.5bln, total assets - AMD 38.2bln, balance
sheet profit - AMD 1.5bln, and profit of the 1st half-year of 2007 -
AMD 67.4mln. At present the bank has 94 functioning branches.
By the main financial indices, the Bank has leading positions in the
RA banking sphere. In particular, according to the preliminary data,
by the amount of assets it ranks the 7th in the 2nd quarter of 2007,
by crediting to legal entities and individuals it ranks the 5th and 3d
respectively, by the volume of attracted time deposit from individuals
- the 4th, by means of individuals poste restante - the 3d, by the
volume of total capital - the 4th, and by the authorized capital -
the 3d. ($1 - AMD 337.93).
--Boundary_(ID_w2RnkkbFN+Vx+vlQN6BlHg)--
ARKA News Agency, Armenia
July 25 2007
YEREVAN, July 25. /ARKA/. The VTB Group became 100% sole shareholder
of the "VTB Bank (Armenia)" CJSC.
The Bank's General Director, Chairman of the Board of Directors Valery
Ovsyannikov said that on July 25, 2007, the VTB Group obtained the
remaining 30% minus one share from "Mika Armenia Trading" Ltd, thus
becoming the sole shareholder of its affiliate company in Armenia -
VTB Bank (Armenia).
According to Ovsyannikov, this deal should be treated as a positive
factor, which first of all gives an opportunity to VTB Bank to have
100% for managing the bank, and, second, it will allow making the
next step towards increase of bank's capital.
The VTB Bank (Armenia) CJSC (former Armsavingsbank) was established
in 1923. Before 1993, it was a part of the USSR State Savings Bank,
then it started operating as a specialized Savings Bank of Armenia.
In September 2001, ARCH Limited Consortium [the Bahamas] and ÌIKA
Armenia Trading privatized the "Armsavingsbank" by direct sale. In
April2004, the Russian "Vneshtorgbank" purchased 70%+1 shares of the
"Armsavingsbank".
According to the official balance data, as of June 30, 2007,
the total capital of the VTB Bank (Armenia) made AMD 9.4bln, the
authorizes capital - AMD 7.5bln, total assets - AMD 38.2bln, balance
sheet profit - AMD 1.5bln, and profit of the 1st half-year of 2007 -
AMD 67.4mln. At present the bank has 94 functioning branches.
By the main financial indices, the Bank has leading positions in the
RA banking sphere. In particular, according to the preliminary data,
by the amount of assets it ranks the 7th in the 2nd quarter of 2007,
by crediting to legal entities and individuals it ranks the 5th and 3d
respectively, by the volume of attracted time deposit from individuals
- the 4th, by means of individuals poste restante - the 3d, by the
volume of total capital - the 4th, and by the authorized capital -
the 3d. ($1 - AMD 337.93).
--Boundary_(ID_w2RnkkbFN+Vx+vlQN6BlHg)--