The bank was established in 1923 to attract private savings and lend consumer credits to wide layers of the population. Before 1993, it was a part of the USSR State Savings Bank, then it started operating as a specialized Savings Bank of Armenia.
License N64 of the Central Bank of the Republic of Armenia issued on 31 October 1996.
In September 2001, the Government of Armenia made a decision to privatize the state “Armsavingsbank” by selling it to ARCH Limited Consortium [the Bahamas] and МIKA Armenia Trading. In early 2003, the whole share package passed on to “МIKA Armenia Trading”. In March 2004, the Russian “Vneshtorgbank” purchased 70% shares of “Armsavingsbank”.
On June 20 2006 the the “Armsavingsbank” was renamed into “VTB-Armenia Bank”.
VTB Bank purchased 30% minus one share from “Mika Armenia Trading” Company and became the full owner of 100% of shares of “VTB-Armenia” Bank. On October 26, 2007 Fitch Rating international rating agency granted BB` rating (with stable forecast) to “VTB Bank (Armenia)” CJSC. On October 26, 2007 Fitch Rating international rating agency granted BB ` “Positive” rating to “VTB Bank (Armenia)” CJSC, and on July 9 2008 granted to bank BB+ “Stable” rating.
The bank is a full member of VISA International payment system.
The bank has 78 branches, 31 – in Yerevan, the rest – in all marzes of Armenia.
The bank serves 236.951 clients: 231.524 individuals and 5.067 legal entities.
The bank has 848 employees.
As of June 2010: total capital – 26 652 218 thousand dram, the assets – 108 826 527 thousand dram, the liabilities – 82 174 309 thousand dram.
General Director and Chairman of the Board of Directors Valeri Ovsyannikov
Address 46 Nalbandyan St., Yerevan 0010, Armenia
Phone (10) 87-87
Fax (10) 56 55 78
E-mail headoffice@vtb.am
URL http://www.vtb.am
