Monday, October 1 2012 15:34
VTB Bank (Armenia) raises interest rates on personal deposits to 13.5%
ArmInfo. VTB Bank (Armenia) raised the interests on all types of personal deposits on October 1 2012, the bank's press-service told ArmInfo.
The source reports that the Bank will be paying the interests immediately after registering the deposit, not at maturity. The highest interest rate is on VTB-Perspective AMD deposit - 13.5%. VTB Bank (Armenia) offers its customers a range of instruments to save and accumulate savings, in particular, depositors are offered to replenish their deposits, withdraw money from the deposit account, as well as close the deposit ahead of term, extend it or capitalize the interests etc. One of the most relevant types of deposits at the moment is VTB-Convertible that allows avoiding loss caused by currency fluctuations, gain additional incomes, and convert the deposit currency without breaking the contract and losing the interest accrued.
"Interest rate on population deposits is an objective process. We understand that it is favorable for customers to get high rates on deposits for a long period of time. Our Bank is operatively responding to any changes in the market and tries to meet the interests of depositors. VTB Bank's deposits meet the interests of our customers as they are accepted on attractive terms and are highly reliable," says Yuri Gusev, VTB Bank (Armenia) Director-General-Chairman of Board.
At present, he says, the Bank offers six types of deposits and a Visa International plastic card as a gift with a credit line in the amount of 90% of the deposit.
As of Sept 30 3012 VTB Bank (Armenia) retail deposit portfolio totaled 53.639 million drams, with a 50% growth versus the same period of 2011. VTB Bank (Armenia) joined VTB Group in April 2004. At present VTB Bank OJSC, Russia, holds the 100% stake in VTB Bank (Armenia). The bank traditionally holds leading positions in the local market in terms of a number of key figures. The bank has the biggest branch network - 69 branches.
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