Saturday, April 23 2011 11:30
VTB Bank (Armenia) and Muran LLC hold a joint action of autocrediting with 10% prepayment
ArmInfo. VTB Bank (Armenia) and Muran LLC are holding a joint action of autocrediting with 10% prepayment (exclusive offer) at the annual interest rate of min 14%. The action will be in force till 30 June 2011.
The press service of VTB Bank (Armenia) told ArmInfo that within the frames of this action the autocredit amount ranges from 1 mln to 15 mln AMD, and the redemption period ranges from 1 to 5 years. The loans are offered for purchase of new Nissan, Infinity, Ford, Volvo, Land Rover, Renault, Peugeot, Chevrolet, as well as GAZ, PAZ and UAZ cars.
According to the source, the minimum initial contribution starting from 10%concerns the autocredits for purchase of the new cars at the automobile dealerships of Muran LLC. This step aims to enhance the loyalty to the bank among the considerable segment of population - drivers and owners of cars, as well as to expand their opportunities in purchasing new cars from the primary market.
"Provision of loans to individuals is one of the most important directions of the Bank's activity. For priority development in this direction and enhancement of efficiency in the autocrediting market, our Bank and our partner Muran LLC, the owner of a network of automobile dealerships have worked out a joint package of special credit terms, on which the purchase of a new car directly from the automobile dealership will be even more profitable for the customers", said Artak Khachatryan, Head of Retail Business Development Department of VTB Bank (Armenia).
According to the Ranking of Commercial Banks of Armenia as of 31 Dec 2010 prepared by the Agency of Rating Marketing Information (ArmInfo), the credit portfolio of VTB Bank (Armenia) amounted to 84 bln AMD (4th position, the quarterly growth being 15% and annual growth being 17%) or about 70% of the assets. 60% of the credit portfolio fell on the loans to economy (4th position in the banking system), and about 40% - on loans to individuals (2nd position). Most part of the loans was placed in the sphere of trade, industrial sector, construction, and agriculture. Over 2010 the bank ensured 4.3 bln AMD net profit (2nd position). By RoA the banks was in the lead in 2010 with 4.51%, and by RoE the bank occupied the 4th position with 19.58%. To note, VTB Bank (Armenia) has the largest branch network - 68 branches, of them 44 in the regions of Armenia, and 24 in Yerevan.
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