Loan portfolio of VTB Bank (Azerbaijan) hits 12 million manat
Azerbaijan, Baku, Sept.13 / Trend, N. Ismayilova /
The total loan portfolio of VTB Bank (Azerbaijan) at present hits about 12 million manat, the Bank said today.
"Today, the total loan portfolio of the bank hits about 12 million manat, 10 million manat of which falls to investment projects," the Bank said.
Bank's investment projects cover the manufacturing sector and construction. Currently 5-6 investment projects, covering the manufacturing sector, service sector and construction, are under consideration in the Bank.
According to the bank's strategy for 2010, the amount of the loan portfolio should be brought to 40 million manat.
The bank license to VTB Bank (Azerbaijan) was issued by the Central Bank of Azerbaijan 11 March 2009, and since November the bank officially began operations.
Shares of VTB Bank OJSC (Azerbaijan) were purchased by functioning shareholders by Russian side (VTB Bank- 51%) and Azerbaijani side (including AtaHolding- 48.99%).
Official exchange rate Sept.13 is 0.8037 AZN/USD.