Monday, May 17 2010 12:51

VTB Bank (Armenia) lowers interests on loans in terms of US dollars to SME


ArmInfo. VTB Bank (Armenia) offers loans to small and medium-size enterprises (SME) in terms of US dollars on lowered annual interest - starting 10%.

VTB Bank (Armenia) told ArmInfo that legal entities and private businessmen whose activity is generally concentrated in Armenia and who have at least 1bn drams annual receipts will be provided with business loans at 10% annual interest. The bank also offers new prices for short-term, mid-term and long-term lending instruments. Every borrower will enjoy an individual approach depending on the structure of the lending.

VTB Bank (Armenia) increased assets 19% for Q1 2010 versus the same period of 2009 to 126bn drams on April 1 2010. The share of the lending portfolio in assets totaled 58% or 73bn drams on April 1 (up 0.3% for Q1 2010). The bank provided 27bn drams or almost 37% of total lending portfolio to big business, and 19.6bn drams or nearly 27% of total to SME. The sole owner of VTB Bank (Armenia) is VTB Bank OJSC.
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