OREANDA-NEWS. October 20, 2009. The VTB Group’s subsidiary bank in Armenia has successfully completed the initial stages of its Sales Model project implemented with direct participation by VTB24, reported the press-centre of VTB24.

VTB24 is in charge of the retail business line of the VTB Group banks in CIS by rendering assistance in building business processes and technologies. The general guidelines and approach are based on VTB24’s experience with due regard to the country peculiarities and those of the bank itself, the market situation and other factors.

The Sales Model project by VTB (Armenia) is one of those. The project development started at the end of 2008 and in June the training sessions started for the employees and managers of the pilot project branches. Within the project framework a sales training and tutorship programme was created, the coach of the subsidiary bank was trained and the methodology for holding the training sessions was fine tuned for further implementation of the sales models and the employee enhancement across the whole network.

The held training sessions had positive influence on the sales and the customer servicing quality. The launched pilot project resulted in overfulfilment by the involved POS of their targets in selling the bank’s priority products.

The financial analysis of the project results enables to reach the breakeven point in 5 months already. Changes to the servicing quality and service improvements were evidenced by a great deal of positive feedback from the bank’s customers.

The high results of the pilot project made the management of Bank VTB (Armenia) JSC take a decision to start a network-wide replication of the Sales Model.

Bank VTB (Armenia) JSC is an all-inclusive bank (with no splitting into corporate and retail banking spheres as in Russia) and has the most extensive branch network in the Republic of Armenia encompassing 78 POS in large cities and settlements of the country (previously named ArmSberbank). With regard to retail services the bank offers its customers all its major banking products and services acceptable in the global financial practice: opening and maintaining accounts, issuance and servicing of bank cards, mortgage and consumer lending, car lending, small business lending, transactions involving checks and cash, time deposits, lease of safe deposit boxes, money transfers and bank guarantees. The services are partly available to customers 24/7 using modern telecommunication technologies.