VTB has increased the capitalization of the subsidiary in Armenia for $36 million

VTB has increased the capitalization of the subsidiary in Armenia for $36 million


As a result of the recapitalization, the authorized capital of VTB Bank (Armenia) has increased to 37.8 billion drams ($80.4 million). The Bank traditionally ranks among the leaders of the Armenian banking system by main indicators.

YEREVAN, 27 Oct. Hamlet Matevosyan. VTB has increased the capitalization of the subsidiary Bank VTB (Armenia) is 36 million dollars, reported the press service of the Armenian Bank.

According to the report, the second largest Russian Bank assets in full and purchased an additional issue of shares of CJSC “VTB Bank (Armenia) in the amount of 17 billion AMD ($36.1 million). As a result, the Charter capital of VTB Bank (Armenia) has increased to 37.8 billion drams ($80.4 million).

“The recapitalization of VTB Bank (Armenia) made in accordance with the decision taken in July this year, the increase of capitalization level will strengthen the Bank’s position in the banking sector of the country”, — stated in the message.

CJSC “Bank VTB (Armenia)” is 100% subsidiary Bank of VTB. The Bank traditionally ranks among the leaders of the Armenian banking system by main indicators. The Bank owns the largest branch network in the country — 67 branches.