Yuri Yakovlev: “Bank VTB (Azerbaijan) has achieved great successes on main directions since it started operating”

Baku: “Bank VTB (Azerbaijan)” has increased its assets 10 times, loan portfolio 18 times and deposit portfolio 11 times since it started operation in Azerbaijan, Chairman of Management Board Yuri Yakovlev said at the press conference.

According to him, the bank has started to provide wide banking services to its customers since 2010. During this period, its assets rose 10 times to AZN 280 mln as of December 1.

“Loan portfolio approximately increased 18 times. As of December 1, 2014, the loan portfolio exceeded AZN 272 mln, while it made AZN 15.2 mln in 2010. According ot bank’s experts, the loan portfolio will exceed AZN 286 mln in 2014. Of this, AZN 58.5 mln falls to share of corporate business, AZN 228.5 mln – of retail business”, Yakovlev said.

Deposit portfolio grew 11 times to AZN 20 mln, profit exceeded AZN 4 mln.

Number of clients reached 24,265. 479 of them are corporate customers, 23,785 retail customers.

Its employees made over 400, while it had 94 employees in 2010.

Today, the bank operates 12 branches and customer services. It launched 8 branches in 2014 (2 of them are in Sumgayit and Khirdalan). Bank also plans to launch a branch in Ganja.

“We achieved great successes during 5 years, became leader in all spheres of banking market. We intent to develop as an universal commercial bank. VTB Group has an unique international network with 30 bank and financial companies in over 20 countries. Bank is ready to help Azerbaijani companies to access to the market of VTB Group representations”, Yakovlev said.

SOURCE: AZERI PRESS NEWS AGENCY