VTB Bank (Armenia) reduces rates for loans secured by gold products

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.