OREANDA-NEWS. December 24, 2009. OJSC Bank VTB (Azerbaijan) plans active development of operations in 2010.

Bank’s chairman of board Oleg Krasnozhon says that they started work only in 2009 (official opening took place on 23 November), and that is why Bank’s financial performance is still small.

“Our current loan portfolio is 5 million manats, but we plan its 10-fold rise next year up to 50 million manats, and if to be exact up to 47 million manats on corporate and 6 million manats on individual customers,” Krasnozhon said.

The Bank will do its best to expand operations.

“Assets following 2010 are expected to reach 70 million manats,” Krasnozhon said.

Today Bank VTB (Azerbaijan) has equity capital of 7.815 million, overall capital of 13.4 million and is in the process of increasing its charter capital by 16 million manats.