Tuesday, November 19 2013 18:16

Ongoing construction of YerevanMall shopping and entertainment center funded by VTB Bank (Armenia)


ArmInfo. VTB Bank (Armenia) and Ameriabank jointly finance the construction of the YerevanMall shopping and entertainment center in Yerevan.

The press service of VTB Bank (Armenia) has told ArmInfo that the total area of the center is about 66939 square meters. It is located in Arshakunyats Avenue, Yerevan. It will consist of two storeys above ground and two underground storeys (parking lots) and will be composed of stores of equipment and appliances, brand-name clothes, entertainment centers, restaurants, cafes, jewelry shops, as well as a large food supermarket.

The construction was launched in 2010. For the moment, the construction of the concrete framing is over and the engineering, assembly and finishing operations are underway.

"One of our strategic tasks is to provide financial support to entrepreneurs. VTB Bank (Armenia) is ready to contribute to business development by providing high quality banking service and beneficial service conditions. The YerevanMall construction lending allows taking an active part in the trade and economic development of Yerevan and raises cooperation with the partners to a new level", said Yuri Gusev, Director General, Chairman of Directorate of VTB Bank (Armenia).

The construction of YerevanMall is organized by Shin Tavr LLC. The latter was founded in 2007.

VTB Bank (Armenia) became a member of VTB Group in April 2004. VTB Bank, the second largest bank in Russia, is the sole owner of VTB Bank (Armenia). The Bank traditionally holds the leading positions in the Armenian banking system by a number of indices. It has the largest branch network in Armenia (67 branches). VTB Bank (Armenia) is also the leader by the number of issued international cards. The bank has its own processing center, which ensures its competitive advantage in the card market of Armenia.
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