Tuesday, April 5 2011 17:53
Business credits with 12% interest rate in VTB Bank (Armenia)
ArmInfo. VTB Bank (Armenia) which has been successfully crediting small business through the wide net of offices in Armenia, has launched an action on business credit "Beneficial" so that to raise loyalty of the small business customers. As press-service of the bank reported, the action will be valid till 30 June of the current year. Within the frames of the action, crediting will be implemented with as beneficial conditions as possible: the size of credit from 2 up to 12 mln drams or the equal sum in foreign currency, the 12% rate of interest and the paying off term - 1 year. Credits will be granted in all the offices of the bank in Yerevan and the regions of Armenia.
"Crediting of the small and medium-sized business is one of the priority directions of development of the VTB Bank (Armenia). stemming from it, the bank is making another step towards improvement of the crediting conditions, at the same time promoting small business development in Armenia. We have been creating beneficial conditions for development of the business of our customers, relieving them from the currency risks and giving them an opportunity of having the long-term and available funds", - Director General- Chairman of VTB Bank (Armenia), Valeriy Ovsyannikov, said.
To note, CJSC VTB Bank (Armenia) has the biggest net of offices in Armenia - 68, 44 of which in the regions and 24 in Yerevan.
According to the ranking of commercial banks of Armenia prepared by ArmInfo, as of 31 December 2010 the credit portfolio of VTB Bank (Armenia) amounted to 84 bln drams (the 4th position) or about 70% from the assets. In the structure of the credit portfolio more than 60% was the share of credit in the economy (4th position) and about 40% - credits to individual persons (2-nd position).
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