Monday, June 25 2012 19:02
VTB Bank (Armenia) launches a series of unique products for small business customers
ArmInfo. VTB Bank (Armenia) has launched a new "10:0" small business lending campaign. The press service of the Bank told ArmInfo that during the "10:0" campaign, which will last till 1 October 2012, the customers have an opportunity to borrow AMD and USD funds in the VTB Bank (Armenia) at the interest rate of 10% p.a. and without any commission fee for the loan provision.
To recall, in May-June 2012 VTB Bank (Armenia) launched a number of new small business lending products - the loan "Now!" and the business loan "White".
The business loan "White" allows the small enterprises to receive a loan ranging from 2 mln AMD to 30 mln AMD (in foreign exchange) for up to 24 months without ny collateral with two persons being guarantors. The loan is provided on the basis of the accounts and records presented to the taxation bodies over the past 12 months.
Given the numerous proposals of the customers, the Bank has also launched the loan "Now!" - the demanded product for individual entrepreneurs. This product will allow the individual entrepreneurs to receive loans within 2-8 hours via an automatic loan decision making system. To receive this loan, the customers only need to present a package of the required documents and fill in an application for the loan.
"The small business lending is one of the leading directions of VTB Bank (Armenia). In the framework of development of this direction, in 2011 several topical and competitive loan products were elaborated and launched, which had no analogues in the lending market of Armenia and met the needs of the most fastidious customers", said Yuri Gusev, Active Director General, Chairman of Directorate of VTB Bank (Armenia). He added that today the Bank is improving the range of products and the procedure of small business lending and is launching unique products to satisfy the needs of the customers. According to the Ranking of Armenian Banks by the Agency of Rating Marketing Information (ArmInfo), VTB Bank (Armenia) is among the top five leaders by small and medium business lending (32.7 bln AMD as of 31 March 2012). The share of small and medium business lending in the loan portfolio of the Bank exceeds 20%. In terms of economy lending, the Bank is among the top three leaders with nearly 99 bln AMD (65% y-o-y growth, 27% quarterly growth).
To note, VTB Bank (Armenia) became a member of the international VTB Group in April 2004. The sole shareholder of the Bank is VTB Bank OJSC, the second largest bank of Russia. At the moment VTB Bank (Armenia) has the largest branch network in the country (68 branches).
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