Bank VTB Armenia is to merge with VTB
Leasing within a month, it has been reported.

Mher Grigorian, deputy CEO of Bank VTB
Armenia, is said to have made the announcement that the bank will
handle all transactions Russian lessor VTB was planning to carry
out in Armenia at a news conference this month.

He added that “the cost of money and
profitability of capital” were the drivers behind the decision to
do business as one entity. He also said the restructured large
companies are getting increasingly reluctant to work with

Grigorian added that the bank extended
€19.5m in mortgage loans in the first quarter of 2010, down from
€33.5m last year.

Bank VTB Armenia is owned fully by
Russian VTB Group.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.