Thursday, December 28 2017 13:47
Alina Hovhannisyan

VTB Bank (Armenia) announces the latest in 2017. share in Lombard loans

VTB Bank (Armenia) announces the latest in 2017. share in Lombard loans

ArmInfo. On the eve of New Year's holidays, VTB Bank (Armenia) launches the latest in 2017. share in loans secured by gold, which will remain in force until January 31, 2018.

As the press service of the Bank told ArmInfo, within the framework of the campaign, customers will be able to issue loans secured by gold products on favorable terms.

 In particular, the annual interest rate on AMD loans will be 2% and on dollar loans - 1%, the loan amount - up to 150% of the estimated value of the mortgage, the loan maturity - up to 3 months. A one-time commission for the issuance of a loan - up to 4% of the loan.

According to the source, customers can apply to any of the 65 branches of VTB Bank (Armenia) to issue loans secured by gold on beneficial terms, by presenting only an identity document. The loan is executed on the spot in a matter of minutes.  More detailed information on the terms and conditions of the promotion can be found in the branches of VTB Bank (Armenia), as well as by calling the Unified Information Service of the Bank at 87-87.

According to the Financial Rating of the Armenian Banks as of October 1, 2017, prepared by the Armenian ArmInfo, VTB Bank (Armenia) in the retail loan portfolio is included in the TOP-3 with a volume of 83.8 billion drams or $ 175.3 million, which is 11% of total retail market loans and over 48 % of the loan portfolio of the bank. In the annual section, the bank increased its retail loan portfolio by 7%, and only in the third quarter - by 5%. On the portfolio of consumer loans, VTB Bank (Armenia) also holds a position in TOP-3 - 69.9 billion drams or 13% of the total volume in the market. In the loan portfolio of the Bank, the share of consumer loans is about 42%. On an annual basis, VTB Bank (Armenia) increased its consumer loan portfolio by almost 12%, and this growth was mainly achieved in 9 months of 2017.

It should be noted that 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) retains leadership in the coverage of the branch network, which has 66 branches, of which 23 are located in the capital. In terms of the number of regional branches, the Bank also holds the first place - 43 units with presence in all areas.

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