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VTB Group takes over Armenian subsidiary

July 26, 2007 | RBC

VTB Group has become the owner of 100 percent of VTB Bank (Armenia) shares. According to the Armenian bank's General Director Valery Ovsyannikov, VTB Group acquired 30 percent minus one share from Mika Armenia Trading Ltd on July 25, thus becoming the sole owner a 100-percent stake in its Armenian subsidiary VTB Bank (Armenia), the ARKA news agency reported.

According to Ovsyannikov, the deal will enable the bank to make a further step to increasing its capital.

Company: VTB (Armenia)

Full company nameAO "VTB Bank" (Armenia)
Country of riskArmenia
IndustryBanks

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