ArmInfo. VTB Bank (Armenia), adhering to the idea of providing loans on the best terms for customers, announces another reduction in interest rates on loans secured by gold products, as well as the commissions applied to them. The press service of the Bank informed ArmInfo about this.
According to the source, the Bank provides clients with the opportunity to issue loans secured by gold products from 2% for loans in AMD, from 1% for loans in dollars (effective annual interest rate - from 16.5% in AMD, from 15.5% in dollars) , the loan is issued in the amount of up to 150% of the value of the pledged gold, the maturity of the loan is up to 5 years, with the method of loan repayment chosen by the client at its discretion. The maximum loan amount is up to 3 million AMD or the equivalent in dollars. In addition, VTB Bank (Armenia) has a special offer for refinanced Lombard loans. In particular, customers who transfer their loans secured by gold products from other banks or credit institutions to VTB Bank (Armenia) will be able to get a loan of up to 30% more from the value of collateral (ie instead of up to 150% it will be up to 180% %). The decision to grant a loan is taken within a matter of minutes, and the loan is processed on the spot and takes only a few minutes. To obtain a loan, the client must submit a minimum package of documents - a document proving the identity and the number of public services (social card).
More detailed information on the terms of lending in VTB Bank (Armenia) can be found at the Bank's branches, at www.vtb.am, in the Uniform Information Service on the number 87-87. According to the Financial Rating of Armenian Banks as of January 1, 2018, prepared by ArmInfo News Agency , VTB Bank (Armenia) is one of the top three with a volume of 90.4 billion AMD ($ 186.8 million), with annual growth of 15.9%. In the total loan portfolio of the bank, the retail share reaches 53%. In the total volume of retail lending, the share of VTB Bank (Armenia) is 11% on the market. On consumer loans, the Bank holds the 2nd position - 77.2 billion AMD ($ 159.6 million) or 46.6% in the loan portfolio. In the annual credit profile, VTB Bank (Armenia) increased the volume of consumer loans by 23.3%. In the total volume of consumer lending, the share of VTB Bank (Armenia) in the market exceeds 13%.
To note, "VTB Bank (Armenia)" JSC became a participant of 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. The branch network of VTB Bank (Armenia) covers 67 branches with presence both in the capital and in all regions of the country.