"Bank VTB (Armenia)" cjsc - Subsidiary bank of VTB in Armenia - was founded on the basis of “Armsberbank” cjsc. "Armsberbank" cjsc was founded on October 29, 1923, at the time when first state savings banks opened and began to operate in Soviet Armenia. In 1993 the Bank was reorganized into the State Specialized Saving Bank of Armenia - Armsberbank, according to the decisions of the Supreme Council and the Council of Ministers of Armenia, In March 2004, the Russian state-owned "Vneshtorgbank" ojsc acquired 70% + 1 shares of "Armsberbank" cjsc, as a result of which the Bank became one of Subsidiaries of Russian "VTB Bank" ojsc and renamed to "Bank VTB (Armenia)" cjsc after the re-branding in June 2006.
VTB Bank became a member of Armenia Securities Exchange on February 18, 2009. The Bank is also a Regulated Market Settlement System member and Depository system Account operator, as well as Pension system Account operator.
For more information about the Bank please visit www.vtb.am.