VTB Bank (Armenia) launches a unique loan program for small business entities with unsecured loans up to 7 million AMD

ArmInfo. VTB Bank (Armenia) launches unsecured loans program for small business representatives - legal entities and private entrepreneurs - up to 7 million AMD with an interest rate of 13.9% without a thorough financial analysis of the client's activity.

As the press service of the Bank told ArmInfo, the decision to grant a loan is accepted in just 8-10 hours by a simplified procedure. In particular, loans of up to 1 million AMD are provided with only one guarantor meeting the requirements of the Bank, and loans over this amount - with 2 guarantors. The maturity of the loan, depending on the amount issued, varies between 36-60 months.

According to the source, loans are provided both for the purpose of solving business problems (replenishment of current and fixed assets) and for repayment of credit debts in other banks and credit organizations.

Detailed information on the service can be found in the branches of VTB Bank (Armenia), as well as by calling the Bank's Unified Contact Service at 87-87.

According to the Financial Rating of Armenian Banks as of January 1, 2017, prepared by NA ArmInfo, VTB Bank (Armenia) is among the top three with a volume of 80.4 billion AMD in terms of lending volume. In the total loan portfolio of the bank, the share of SME loans exceeds 48%. In the total volume of SME lending, the share of VTB Bank (Armenia) reaches almost 13% on the market.

"VTB Bank (Armenia)" CJSC became a participant of the international financial group VTB in April 2004.  At present, VTB Bank, the second largest 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. The coverage of the branch network of VTB Bank (Armenia) has 67 branches with presence not only in the capital, but also in all regions of the country.