Ara Avagyan appointed CEO - Chairman of VTB (Armenia) Directorate

YEREVAN, August 13. /ARKA/. Ara Avagyan has been appointed Director General - Chairman of VTB (Armenia) Board of Directors, the bank’s press service reported.

It said in this new capacity Ara Avagyan will continue to develop the bank's business in the country - to improve financial indicators, attract clients, introduce new products to the market and improve remote services.

Ara Avagyan is a graduate of Yerevan University of Economics and Law. He has been working in the financial sector for more than 25 years. He started working for VTB (Armenia) in 2020 as director of Corporate Business Development Department.

In July last year he was appointed as VTB (Armenia) Bank's Acting General Director - Chairman of the Directorate.

"Today VTB (Armenia) serves over 380,000 retail and 11,000 corporate clients in the country. More than 20% of the country's pension age population receive pensions on the bank's cards. We are actively developing cross-border money transfers from Russia to Armenia and from Armenia to Russia, which allow sending money to relatives and friends in a short period of time. Our main task is to maintain and continue to increase our positions in the banking market of the country by attracting new clients, transforming our network and launching new products and services," said Ara Avagyan.

VTB (Armenia) has been a subsidiary of Russia's VTB Bank since 2004. Clients of all segments have access to 53 branches, over 200 ATMs and more than 50 self-service terminals throughout the country.

The activities of VTB Bank (Armenia) CJSC are regulated by the Central Bank of Armenia. -0-