Yerevan/Mediamax/. The net profit of VTB Bank (Armenia) for 9 months of 2012 makes AMD2.5bln and the bank is going to reach AMD4.5bln index till the end of 2012. The results of the bank's activity for 9 months of 2012 were presented by the CEO-Chairman of Board of Directors of VTB Bank (Armenia) Yuri Gusev and Vice President, head of the International Business Department of VTB 24 Business Vsevolod Smakov.

The operating income reached AMD12.2bln having increased by 21.5% against the same period of 2011. The return of equity (ROE) and return of assets (ROA) made 11.6% and 1.8% respectively. The bank is expected to reach the ROE target reference at 15%.

By the operating income without taxes and reserves, the bank takes the first position in Armenian banking system.

The portfolio of credits issued to individuals increased by 36.8% against the same index of 2011 having made AMD60.9bln in the bank. In its turn, the credit portfolio of the corporate business increased by 21.5% having made AMD86.8bln.

According to Yuri Gusev, both retail market and corporate lending (both big and medium enterprise)  dynamically develops. "We enter the classic small enterprise more and more. We expect the portfolio of small enterprise lending to make about AMD16-18bln", noted Yuri Gusev.

Vice President of VTB 24 Vsevolod Smakov said that "successful work within the strategy of VTB Group on the Armenian market allows VTB Bank (Armenia) to strengthen its positions especially on the retail market sector".

"Owing to the effective work toward issuing credits to individuals and small enterprise, attraction of people's funds, development of distant servicing channels and expansion of the branch chain, VTB Bank (Armenia) takes the lead on the market by many indices", noted Vsevolod Smakov. --0--