VTB Bank Armenia expands online regional network

PanARMENIAN.Net - VTB Bank Armenia expands its online regional network. Branches in Hrazdan, Vedi, Artashat and Masis have been already linked.

Up to June 20, 2006 VTB Bank (Armenia) has operated under the name Savings Bank of the Republic of Armenia. Armsavingsbank was founded in 1923 with an aim to render banking services, particularly to attract savings and grant consumer loans. Since April 2004 one of the RF leading banks, Vneshtorgbank, became the shareholder of over 70% of Armsavingbank shares, thus Armsavingsbank became integrated into the network of Vneshtorgbank subsidiaries operating worldwide. In June 2006 Armsavingsbank was renamed to VTB Bank (Armenia) CJSC.



In July 2007 VTB acquired 30% less one share from Mika Armenia Trading LTD company and became the sole shareholder of 100% shares of its subsidiary in Armenia, VTB  Bank (Armenia) CJSC.



Activity Program of VTB Bank (Armenia) envisages further expansion of Armenia's economy financing.  Beside, the Bank constantly renews the range of services offered to retail business customers and enlarges its activities in most diverse spheres of business, from small enterprise servicing to expansion of collaboration with major corporate clients.

Bank has 78 branches and 848 employees.