Last update - 29.01.2015
Subsidiary bank of VTB in Armenia - Bank VTB (Armenia) Ltd was founded on the basis of “Armsberbank” Ltd and is de facto considered the successor of its more than 85-year-old business traditions. The history of Armsberbank goes back to the beginning of the twentieth century. It was founded on October 29, 1923, at the time when first state savings banks opened and began operating in Soviet Armenia. 70 years later, in 1993, according to the decisions of the Supreme Council and the Council of Ministers of Armenia, Bank was reorganized into the State Specialized Savings Bank of Armenia - Armsberbank. In March 2004, the Russian state-owned "VTB" OJSC (hereinafter - OJSC Bank VTB) acquired 70% + 1 share of Armsberbank CJSC.
Thus Armsberbank CJSC has joined the ranks of the banking subsidiaries of Russian Bank VTB (parent bank) and after re-branding in June 2006 was renamed to "Bank VTB (Armenia)".
In July 2007, Bank VTB bought the rest of the shares (30% minus 1 share) of Bank VTB (Armenia) and thus became its sole owner. In the same year, there have been changes in the staff of the governing bodies of the Bank.
Bank VTB (Armenia) is a full member of the international payment system VISA International, which is a serving member of the local Armenian ArCa payment system. In September 2013, Bank VTB (Armenia) joined the international payment system MasterCard as an Acquirer and Issuer at the same time.
In August of 2009 Fitch Ratings international rating agency has assigned a rating of BB 'Stable' to the bank /according to the rating of the RA/.
Extensive branch network of Bank VTB (Armenia) in RA allows customers to use different services of the bank at their places of residence, including accepting deposits, giving loans, making international transfers and paying utility services bills.
The Bank provides services to individuals, entrepreneurs and small-to-medium businesses, as well as commercial /corporate/ and government organizations.
As of December 31, 2014, the total capital of the bank is 44,773,806 thousand drams, actives – 379,636,004 thousand drams, liabilities – 334,862,199 thousand drams.