ArmInfo. VTB Bank (Armenia), taking into account the importance of developing and stimulating small business in the country, starts active lending to SMEs. As ArmInfo was told in the press service of the Bank, from now on, it is possible to get a loan from VTB (Armenia) to start a new business or develop an already existing business on the most favorable terms.
According to the source, within the new product line the Bank offers loans and credit lines in drams at a reduced interest rate - from 13% per annum. The new product line also includes unsecured loans for up to 5 million drams, with a minimum period of consideration and approval of the application. Terms of repayment of business loans are the following: for replenishment of working capital - up to 36 months; on replenishment of fixed assets and refinancing - up to 60 months.
Credits and credit lines are provided to individual entrepreneurs, legal entities-residents of Armenia, who carry out entrepreneurial activity in the territory of Armenia in the fields of trade, construction, production, provision of services, etc.
Detailed information on the terms of lending from VTB Bank (Armenia) is provided in the Bank's branches and by calling the Bank's Contact Service at 87-87.
According to the Financial Rating of the Armenian Banks prepared by ArmInfo as of July 1, 2018, , VTB Bank (Armenia) in terms of SME lending is included in the TOP-5 with a volume of 68.6 billion drams ($ 142.2 million). In the total loan portfolio of the Bank, the share of SME crediting accounts for about 40%, and in the total volume of SME lending on the market, the share of VTB Bank (Armenia) reaches 10%.
To note VTB Bank (Armenia) CJSC 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 leading position in the coverage of the branch network with 67 branches with presence both in the capital (24) and in all regions of the country (43).