Yerevan/Mediamax/.  New General Director - Chairman of the Directorate of VTB Bank (Armenia) Yuri Gusev said today that there is a peculiarity in the medium enterprise operation in Armenia.

Answering Mediamax\'s question on \"peculiarities of the national Armenian business\", he said that \" if speaking about big  corporate business, there is perhaps no exclusively \"Armenian peculiarity\" here, and the market operates almost by the same rules across the whole territory of CIS except for the business scales\".

\"Speaking about peculiarity, we should note medium business - USD 1mln - 3mln. Here the peculiarity is that unfortunately, management in the companies including commercial ones doesn\'t work fully and there is no transparent reporting system. In its turn, it makes us change our procedures, undertake more risks and think not about how to avoid them but how to minimize\", noted Yuri Gusev.

Mikhail Yakunin, head of the Department of Subsidiaries- Senior Vice President of the VTB Bank, Chairman of Board of VTB Bank (Armenia), answering Mediamax\'s question on the prospects of establishing VTB Pension Fund subsidiary structure in Armenia, said that according to Russian law, the Pension Fund can\'t have branches here.

\"If we decided to enter the Armenian market it will be a separate legal entity\", he said.

At the same time, Mikhail Yakunin recalled that discussions on the future of the pension system are held in Russia now and the relevant analysis and decision will be made after the adoption of all the necessary bills in Russia.

Answering the question on participation of VTB Bank (Armenia) on the leasing market, speakers assured that the bank will actively enter the market from January-February 2013.

They also assured that Armenia is one of the priority markets for VTB, the bank\'s positions are strong here and they are going to strengthen them in the future as well.