Wednesday, October 12 2011 19:05
VTB Bank (Armenia) and Muran LLC hold a joint exclusive campaign on car loans
ArmInfo. VTB Bank (Armenia) and Muran LLC are holding a joint exclusive campaign on provision of loans to those who want to purchase Nissan Micra cars from the primary market. The press service of VTB Bank (Armenia) told ArmInfo that quite profitable terms for purchase of cars are offered in order to expand the opportunities of the Armenian drivers.
According to the source, the action will be in force from early October till late December 2011. The AMD loans will be provided on the following terms: 10% prepayment, 1-7 –year period of redemption at an interest rate of min 15% p.a. The specified terms only concern the purchase of the new Nissan Micra cars at the salon of Muran LLC (47, Komitas Ave, Yerevan).
"Lending to individuals is one of the most important directions of the Bank's activity. In order to develop the given segment and enhance the efficiency of the work in the car loans market, for the second time in 2011 VTB Bank (Armenia) and its partner Muran LLC, the official representative of Nissan, have worked out a package of profitable credit terms for the customers purchasing Nissan Micra cars directly from the automobile salon", said Valery Ovsyannikov, Director General, Chairman of the Directorate of VTB Bank (Armenia).
The first joint campaign with Muran this year was conducted in Apr- June: VTB Bank (Armenia) issued auto loans for Nissan, Infinity, Ford, Volvo, Land Rover, Renault, Peugeot, Chevrolet and Russian GAZ, PAZ and UAZ. This time the repayment period is two years longer, with the minimum interest rate revised.
According to ArmInfo's Ranking of Commercial Banks of Armenia, June 30 2011 the loan book of VTB Bank (Armenia) totaled 406bln AMD (3rd place, 9.4% quarterly and 47.3% annual growth) or 72% of the bank's assets. 40% of the loans were private loans (2nd place).
VTB Bank (Armenia) joined VTB Group in Apr 2004 and belongs to VTB Bank, the second biggest bank of Russia. The bank has 68 branches (24 in Yerevan).