Wednesday, August 30 2017 12:24
Alina Hovhannisyan

VTB Bank (Armenia) presents improved conditions for mortgage lending

ArmInfo. From now on, it is  possible to issue a mortgage loan in the amount of up to 25 million  drams for buying / building / repairing real estate at a reduced  interest rate from VTB Bank (Armenia) starting from 11.5% per annum  when purchasing housing and from 12.5% at construction / repair.  According to the press service of the Bank, the mortgage loan can be  granted to RA citizens and RA residents, whose age at the time of  receiving the loan should not be less than 21 years, and at the time  of repayment the loan should not exceed the age of the borrower's  retirement. 

According to the source, a minimum package of documents is required  to obtain a mortgage loan at VTB Bank (Armenia). Preliminary decision  to grant a loan is made as soon as possible - 2 working days. In VTB  Bank (Armenia) it is also possible to obtain a loan under the  mortgage program "Housing for young people", within which the  interest rate for customers from the regions of Armenia starts from  5%, and for clients from Yerevan - from 7%.More detailed information  on the terms and rates of mortgage loans can be found in the branches  of VTB Bank (Armenia), at www.vtb.am, and by calling the Bank's  Unified Information Service at 87-87.According to the Financial  Rating of the Armenian Banks as of July 1, 2017, prepared by the IA  ArmInfo, VTB Bank (Armenia) occupies the 6th position in terms of  mortgage lending - 13.8 billion drams. In the total mortgage lending  of the banking system, the share of VTB Bank (Armenia) exceeds 7%,  and in the loan portfolio of the bank reaches 8%.It should be noted  that "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.


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