ArmInfo. The reduction in interest rates on consumer loans at VTB Bank Armenia was primarily due to changes in the model of working with clients. This was during a press conference on February 21, said Ivan Telegin, Director of the Retail Banking Development Department of CJSC VTB Bank (Armenia), appointed on the same day by the Bank's Council for the post of General Director-Chairman of the Bank's Directorate, who will take up this post on February 24.
"Today we focus on the complex program People of Business for employees of budgetary organizations, which has had a positive impact on the risk parameters, which have significantly decreased. And, accordingly, this entails a decrease in lending rates, "he explained. According to Telegin, today about 65% of credit transactions with individuals are made in this segment. "Accordingly, the overall rate, if we take the average rate for lending to individuals of VTB Bank Armenia, declines, and the appetite for them is quite moderate," he stressed. In this vein, he noted that for consumer loans, interest rates in 2017 rates fell by 3-5%.
Speaking about the situation with regard to interest rates this year, the Director of the Retail Business Development Department of VTB Bank (Armenia) noted that in 2018 there is no planned reduction of interest rates. "Of course, we will look at the economic situation, the market, risk indicators - and this will all affect the rate.I believe that interest rates will be comfortable for customers, "he said. The Bank has long maintained its leading positions in the retail business in the banking system of Armenia. In 2017, the Bank exceeded the plan in this block 6 times, with operating profit at the level of 10 billion AMD. According to the "Financial Rating of Armenian Banks" as of December 31, 2012, prepared by ArmInfo News Agency , the assets of VTB Bank (Armenia) 216.1 billion AMD, credit investments - 171.5 billion drams, retail lending - 90.4 billion AMD. Total liabilities of the Bank were 175.4 billion AMD, in the structure of which 56.4% fell to the share of time deposits - 98.9 billion AMD, of which 85.6 billion AMD is the funds of natural persons. (The calculated exchange rate of AMD as of December 31, 2017 was 484.10 AMD / $ 1). VTB Bank (Armenia) JSC became a participant in the international financial group VTB in April 2004. At present, VTB Bank, the second largest bank in Russia, owns 100% of VTB Bank (Armenia). The Bank is traditionally one of the leaders of the banking system of the Republic of Armenia in terms of key indicators. VTB Bank (Armenia) holds the first place in the coverage of the branch network - 67 units with presence both in the capital and in all regions of the country.