ArmInfo. VTB Bank (Armenia) is launching a new program of refinancing / repurchasing mortgage loans from other banks and credit companies. As ArmInfo was explained in the press service of the Bank, this program has a number of advantages. In particular, it is possible to lower the interest rate, change the currency of the loan, increase the repayment period, so that customers will ease their monthly financial burden and optimize the cost of repaying the loan.
Mortgage loans at VTB Bank (Armenia) will be refinanced on improved terms: annual interest rate - starting from 10.9% (effective rate - starting from 13.5% per annum); maturity - up to 30 years; the maximum amount of the loan is up to 80 million drams, the term for making a decision on the mortgage is up to 1.5 days. When refinancing / redeeming mortgage loans within the framework of this program, the client's income is not analyzed, and the required package of documents is minimal.
From now on, all customers who faithfully service their mortgage loans in any bank or credit company of Armenia are given the opportunity to refinance / transfer them to VTB Bank (Armenia), having received a new mortgage loan in the amount of the remaining credit on the most favorable terms for a facilitated process.
More detailed information on the conditions for refinancing loans at VTB Bank (Armenia) can be found at the Bank's branches, at www.vtb.am, in the Uniform Information Service at 87-87.
According to the Financial Rating of the Armenian Banks as of July 1, 2018, VTB Bank (Armenia) on the mortgage portfolio is included in the TOP-10 with a volume of 11.6 billion drams or $ 24 million. The total loan portfolio of the Bank accounts for about 7 %, and in the total mortgage loans of the banking sector the share of VTB Bank (Armenia) exceeds 5%. On the portfolio of retail loans, VTB Bank (Armenia) is included in TOP-3 with a volume of 104.7 billion drams or $ 217.1 million, which is 11.4% of total retail loans of the market and about 59.4% of the bank's loan portfolio. In the annual context, the bank increased its retail loan portfolio by 30.8%.
To note, "VTB Bank (Armenia)" CJSC became a participant of 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. In terms of coverage of the branch network, VTB Bank (Armenia) holds the leading position - 67 branches with presence both in the capital and in all regions of the country.