Wednesday, December 28 2016 16:53
Karine Melikyan

VTB Bank (Armenia) resumes disposing car loans at improved terms

VTB Bank (Armenia) resumes disposing car loans at improved terms

ArmInfo. AMD based loans for vehicles purchase are offered by VTB Bank (Armenia) to private persons. According to the press office of the Bank, the terms of loans are essentially improved: the interest rate is 16%, upfront payment - starting with 20% and the payout period is up to 7 years.  The maximum value of loan is AMD 28 mln. Bank will also issue insurance for the whole period of loan in respect both to the vehicle and the borrower.

According to the source, this kind of loan is available for private persons - RA residents starting with the age of 23, and under 65 due to the moment of borrowing.  A minimum files package is required to review the application. The timeline for taking the preliminary decision when purchasing the vehicle from the primary market is 5 hours, the same in respect to second hand market - up to 2 business days.

According to the Banks Financial Rating, developed by ArmInfo, VTB Bank is one of three leading banks in respect to retail loans, having a volume of AMD 78,4 bln. The share of retail loans forms 43% of the bank's loan portfolio. VTB (Armenia) Bank share in total loan volume reaches the 11% point.

To note, because of the 2009 financial crash car purchase lending decreased essentially due to high risks. In recent two years this segment' s attractiveness recovered, but the lending volumes are still far behind from those before the crisis of 2009. 

To mention, VTB Ban (Armenia) joined the International Financial Group of VTB in April 2004. Currently the second biggest bank in Russia - VTB- is the sole shareholder of VTB (Armenia). The Bank is traditionally included in the leader's list due to its general indicators.

POST A COMMENT
Input digits     


News
Converse Bank customer wins Visa campaignConverse Bank customer wins Visa campaign
Armenia`s economy recovered quickly after `September shock` - Vahan  KerobyanArmenia`s economy recovered quickly after `September shock` - Vahan  Kerobyan
AraratBank launches Google Pay for its card usersAraratBank launches Google Pay for its card users
Goods imported to Armenia to be liable to excise taxGoods imported to Armenia to be liable to excise tax
Armenia`s national debt in terms of figures not essential - Armenia`s  premier Armenia`s national debt in terms of figures not essential - Armenia`s  premier 
French Development Agency to open permanent office in YerevanFrench Development Agency to open permanent office in Yerevan
Proposed reform to introduce system of mandatory universal income  declaration system for all resident citizens in Armenia cannot ensure  achievement of the declared goals: Tigran JrbashyanProposed reform to introduce system of mandatory universal income  declaration system for all resident citizens in Armenia cannot ensure  achievement of the declared goals: Tigran Jrbashyan
IDBank  “MalatiaIDBank  “Malatia" branch now more comfortable and modern
Largest mining company in Armenia presents its first ESG reportLargest mining company in Armenia presents its first ESG report
It is already possible to make payments with IDBank cards via Apple PayIt is already possible to make payments with IDBank cards via Apple Pay
 Converse Bank announces the launch of the  new coupon bonds placement Converse Bank announces the launch of the  new coupon bonds placement
Vine and Wine Foundation of Armenia: Volumes of wine production in  Armenia almost doubled over 5 yearsVine and Wine Foundation of Armenia: Volumes of wine production in  Armenia almost doubled over 5 years
Armenia`s minister of territorial administration hosts  Ukrainian-Armenian businessmenArmenia`s minister of territorial administration hosts  Ukrainian-Armenian businessmen
Iranian Minister of Energy announces launch of project for  synchronization of electricity between   Iran, Azerbaijan, Armenia and RussiaIranian Minister of Energy announces launch of project for  synchronization of electricity between  Iran, Azerbaijan, Armenia and Russia
Armenia`s economy most likely to not reach its historical high by the  end of 2022: Haykaz FanyanArmenia`s economy most likely to not reach its historical high by the  end of 2022: Haykaz Fanyan
Yerevan, Tehran continue to expand economic relationsYerevan, Tehran continue to expand economic relations
Success of the family business based in Tavush: from a home to a guest house and a small winerySuccess of the family business based in Tavush: from a home to a guest house and a small winery
Armenia becomes popular destination for BelarusiansArmenia becomes popular destination for Belarusians
Satlantis CEO: Armenia did not buy an expensive Mercedes, but rather   established a plant that will produce itSatlantis CEO: Armenia did not buy an expensive Mercedes, but rather   established a plant that will produce it
Robert Khachatryan: Satellite Control Center in Armenia to be ready  by the end of the yearRobert Khachatryan: Satellite Control Center in Armenia to be ready  by the end of the year
Armenia starts construction of its first satelliteArmenia starts construction of its first satellite
Participation of GeoProMining in state subvention projects in Armenia reaches 1 billion 700 million drams ($ 4.2 million )Participation of GeoProMining in state subvention projects in Armenia reaches 1 billion 700 million drams ($ 4.2 million )
Significant progress has been made on the issue of launching the  ferry crossing Poti - Port Kavkaz - Deputy MinisterSignificant progress has been made on the issue of launching the  ferry crossing Poti - Port Kavkaz - Deputy Minister
Armenia sings two loan agreements with AFD, ADBArmenia sings two loan agreements with AFD, ADB
Multifunctional cultural production cluster to open in DilijanMultifunctional cultural production cluster to open in Dilijan
Vice-President of Interstate Bank: After the developments at the  beginning of 2022, the turnover in the national currencies in the  correspondent banks of the Interstate Bank has increased  significantlyVice-President of Interstate Bank: After the developments at the  beginning of 2022, the turnover in the national currencies in the  correspondent banks of the Interstate Bank has increased  significantly
On November 22, Converse Bank to sell AMD, USD bonds worth AMD 3  billion, USD 10 million On November 22, Converse Bank to sell AMD, USD bonds worth AMD 3  billion, USD 10 million 
Armenia`s economy is unhealthy: Economist offers ways to solve  existing problemsArmenia`s economy is unhealthy: Economist offers ways to solve  existing problems
Google pay and Google wallet available in ArmeniaGoogle pay and Google wallet available in Armenia
Europrotocol is losing its popularity in Armenia due drop in  confidence in insurers; Market is getting adventurousEuroprotocol is losing its popularity in Armenia due drop in  confidence in insurers; Market is getting adventurous
If the potential for electricity export to Iran is activated, it will  affect domestic tariffs - Mher GrigoryanIf the potential for electricity export to Iran is activated, it will  affect domestic tariffs - Mher Grigoryan
Armenia`s defense expenditures in 2023, compared to 2018, will  increase by 113%: Pashinyan announces transition to professional armyArmenia`s defense expenditures in 2023, compared to 2018, will  increase by 113%: Pashinyan announces transition to professional army
Armenia increased export deliveries 2.2-fold in OctoberArmenia increased export deliveries 2.2-fold in October
No alternative to Armenia`s accelerated economic development -  minister No alternative to Armenia`s accelerated economic development -  minister 
Telecom Armenia team restore ed Internet access issues by launching  backup channelTelecom Armenia team restore ed Internet access issues by launching  backup channel
Ameriabank Launches Google Pay and Google Wallet Support for Card Users in ArmeniaAmeriabank Launches Google Pay and Google Wallet Support for Card Users in Armenia
Team Telecom Armenia warns of problems with Internet accessTeam Telecom Armenia warns of problems with Internet access
The state debt of Armenia has exceeded the psychological threshold of  $10 billionThe state debt of Armenia has exceeded the psychological threshold of  $10 billion
Ardshinbank showcases the Google Pay for Android fans in ArmeniaArdshinbank showcases the Google Pay for Android fans in Armenia
Google Pay is a new contactless payment option for Converse Bank customersGoogle Pay is a new contactless payment option for Converse Bank customers
Google Pay™ is available for Acba bank customersGoogle Pay™ is available for Acba bank customers
Armenia`s economy suffering losses due to lack of universal basic  skills - experts Armenia`s economy suffering losses due to lack of universal basic  skills - experts 
Share of non-cash transactions in plastic card transaction near 40% Share of non-cash transactions in plastic card transaction near 40% 
Discussions on concept of comprehensive health insurance held in  Armenia with participation of WB representativesDiscussions on concept of comprehensive health insurance held in  Armenia with participation of WB representatives
Construction of Kapan-Chakaten bypass road in Syunik region of  Armenia has been completedConstruction of Kapan-Chakaten bypass road in Syunik region of  Armenia has been completed
Number of virtual vPOS terminals is approaching 4 thousand in  Armenia, continuing double-digit growth trendNumber of virtual vPOS terminals is approaching 4 thousand in  Armenia, continuing double-digit growth trend
Pashinyan promises Pashinyan promises "geometric growth" of economy, in case of  implementation of  peace agenda
Armenia closely cooperates with its Iranian partners - PashinyanArmenia closely cooperates with its Iranian partners - Pashinyan
 Plastic cards` number exceeds 3 million in Armenia Plastic cards` number exceeds 3 million in Armenia
UNIDO launches quality infrastructure development program in ArmeniaUNIDO launches quality infrastructure development program in Armenia
Project to build new atomic power unit discussed in ArmeniaProject to build new atomic power unit discussed in Armenia
AMD 4,827,643 to the Homeland Defender’s rehabilitation center: The November beneficiary of AMD 4,827,643 to the Homeland Defender’s rehabilitation center: The November beneficiary of "The Power of One Dram" is the "Aren Mehrabyan" Foundation
Iranian minister: Iran`s trade with Armenia will triple after the  country joins the EAEUIranian minister: Iran`s trade with Armenia will triple after the  country joins the EAEU
Vardan Aramyan: The Armenian economy is overheated. Quick and  unpopular cooling solutions neededVardan Aramyan: The Armenian economy is overheated. Quick and  unpopular cooling solutions needed
Armenia`s CB to use all monetary instruments to reach the inflation target - chairmanArmenia`s CB to use all monetary instruments to reach the inflation target - chairman
Armenia continues road improvement and rehabilitation projectArmenia continues road improvement and rehabilitation project
Global catastrophe is approaching: Head of Mantashyants Entrepreneurs  Union  on  Global catastrophe is approaching: Head of Mantashyants Entrepreneurs  Union  on  "side effects" of growth due to re-exports and Russian  immigrants
Joint initiative of GITC and HSBC Armenia aims to expand youth  employment opportunities through capacity buildingJoint initiative of GITC and HSBC Armenia aims to expand youth  employment opportunities through capacity building
Expert: Armenia has every chance of becoming one of transit hubs for  sale of products of Russian manufacturers and supply of necessary  products for RFExpert: Armenia has every chance of becoming one of transit hubs for  sale of products of Russian manufacturers and supply of necessary  products for RF
Why have large infrastructure projects stalled?  Expert`s opinionWhy have large infrastructure projects stalled?  Expert`s opinion
Read more


Exchange rates
25.11.2022
RUB6.53-0.02
USD395.05-0.24
EUR411.29-0.05
GBP478.17-0.53
CAD296.07-0.23
JPY28.35-0.26
CNY55.38-0.14
CHF418.62-0.61