Friday, June 17 2022 14:29
Alina Hovhannisyan

VTB Bank launches money transfers in national currencies to Belarus,  Kazakhstan, Armenia and Azerbaijan

VTB Bank launches money transfers in national currencies to Belarus,  Kazakhstan, Armenia and Azerbaijan

ArmInfo. VTB Bank has launched money transfers in national currencies to neighboring countries - Belarus, Kazakhstan, Armenia and Azerbaijan. Member of the Board of the Bank Svyatoslav Ostrovsky stated this to journalists on the  sidelines of the St. Petersburg International Economic Forum (SPIEF).

<After restrictions were imposed on Russian banks, customers have  significantly reduced the number of usual ways to transfer funds  abroad. Taking into account the fact that such transfers, especially  to the CIS countries, are extremely important for many of our users,  VTB has launched money transfers to neighboring countries>, he said.

The maximum amount of a cross-border transfer by payment details to  Belarus, Kazakhstan, Armenia and Azerbaijan complies with the  requirements of the Central Bank of the Russian Federation and is 150 thousand (or the equivalent in another foreign currency) per  month, the commission is 1% of the transfer amount. Transfers are  available to both individuals and legal entities, he noted.

The St. Petersburg International Economic Forum, organized by the  Roscongress Foundation, takes place from June 15 to June18. New World  - New Opportunities" is the topic of the 2022 Forum.

To note, VTB Bank (Armenia) CJSC became a member of VTB International  Financial Group in April 2004. VTB Bank PJSC, the second largest in  Russia, owns 100% of the shares of VTB Bank (Armenia).VTB Bank  (Armenia) is among the leading banks in terms of key balance  indicators in the Armenian banking market (total capital, assets,  liabilities, deposits of individuals, loan investments), holds  leadership in consumer loans and is in the TOP-5 in agricultural  loans. The Bank traditionally holds the lead in coverage of the  branch network. VTB Bank (Armenia) is one of the leaders in terms of  money transfers in Armenia. In January-September 2021, the number of  money transfers serviced by the bank reached 500,000, exceeding the  indicator of a year ago by 34%.  The primary strategic tasks of VTB  Bank (Armenia) are the optimization of business processes and the  improvement of remote service systems. As part of this update, the  bank plans to launch high-tech products, attract new client segments  and strengthen its competitive position in the Armenian banking  market. VTB Bank (Armenia) is also working towards the use of "MIR"  and UnionPay payment cards.  VTB Bank (Armenia), maintaining its  position in the banking market, continues to provide the main types  of financial services, fulfills all obligations to customers and  partners, and increases its presence in key segments of the country's  banking sector.  According to the Financial Rating of Banks of  Armenia as of December 31, 2021, prepared by ArmInfo, the assets of  VTB Bank (Armenia) exceeded $753 million, of which 64% or more than  $480 million were loan investments. In terms of income from money  transfers, the Bank is in the TOP-5 with a volume of $3.5 million, an  increase of 21% per annum. VTB Bank (Armenia) completed 2021 with a  net profit of $3.3 million

POST A COMMENT
Input digits     


News
AMD 4,248,945 to AMD 4,248,945 to "QaylTech": The August beneficiary of "The Power of One Dram" is "The Rehabilitation City of Heroes" - psychological rehabilitation center
Airlines, hotels, banks, rental and leasing sectors registered  significant increase in service volumes in ArmeniaAirlines, hotels, banks, rental and leasing sectors registered  significant increase in service volumes in Armenia
Cargo traffic down, passenger traffic up in Armenia in first half,  2022Cargo traffic down, passenger traffic up in Armenia in first half,  2022
Growth of trade sector was facilitated by increase in activity in  wholesale and car trade marketsGrowth of trade sector was facilitated by increase in activity in  wholesale and car trade markets
4.5% increase in proceeds of Armenia`s communication sector in first  half 20224.5% increase in proceeds of Armenia`s communication sector in first  half 2022
188,856 tourists visit Armenia this July188,856 tourists visit Armenia this July
Accelerated growth of Armenian industrial sector was driven by  processing industryAccelerated growth of Armenian industrial sector was driven by  processing industry
Veolia Djur proposes to raise water tariff in ArmeniaVeolia Djur proposes to raise water tariff in Armenia
State Revenue Committee of Armenia starts active administration in  pursuance of law State Revenue Committee of Armenia starts active administration in  pursuance of law " On Non-Cash Transactions"
Armenia`s premier calls for revising economic programmes Armenia`s premier calls for revising economic programmes 
EDB to allocate $25 million to implement Armenia`s largest livestock  programEDB to allocate $25 million to implement Armenia`s largest livestock  program
Double-digit growth in economic activity in Armenia is accompanied by  surge in imports and exportsDouble-digit growth in economic activity in Armenia is accompanied by  surge in imports and exports
Armenian business forum to be held in Yerevan for second timeArmenian business forum to be held in Yerevan for second time
Production of aluminum foil in Armeniaincreased by 8% in June 2022Production of aluminum foil in Armeniaincreased by 8% in June 2022
Metallurgy industry of Armenia sums up H1 2022 with a 7% declineMetallurgy industry of Armenia sums up H1 2022 with a 7% decline
EDB: Armenia ranks first among member countries with small economies  in current investment portfolio of EDB EDB: Armenia ranks first among member countries with small economies  in current investment portfolio of EDB 
EADB to allocate $37mln for construction of 11 solar power stationsEADB to allocate $37mln for construction of 11 solar power stations
Apartments in Yerevan rose in price by 5.4% in Q2, with increase in  transactions for their purchase and sale by 30.8%Apartments in Yerevan rose in price by 5.4% in Q2, with increase in  transactions for their purchase and sale by 30.8%
 Further rise in food prices in Armenia  Further rise in food prices in Armenia 
Loan payoff with another bank via AppLoan payoff with another bank via App
Deputy Minister: 12 more lanes added to 13 existing lanes of Upper  Lars checkpointDeputy Minister: 12 more lanes added to 13 existing lanes of Upper  Lars checkpoint
Ferry communication to be launched this month - minister Ferry communication to be launched this month - minister 
Armenia is among the TOP-5 destinations for Russian tourists this  autumArmenia is among the TOP-5 destinations for Russian tourists this  autum
Austria to invest in Armenia`s SyunikAustria to invest in Armenia`s Syunik
Gyumri Breeding Station reports three-fold growth in barley output Gyumri Breeding Station reports three-fold growth in barley output 
CBA: In February-June 2022, demand deposits of non-residents  increased significantly in Armenian banksCBA: In February-June 2022, demand deposits of non-residents  increased significantly in Armenian banks
CBA: High demand leads to the expansion of the inflationary  environment and maintenance of high inflation expectations, but dram  appreciation partially neutralizes the price increaseCBA: High demand leads to the expansion of the inflationary  environment and maintenance of high inflation expectations, but dram  appreciation partially neutralizes the price increase
Minister: The share of the mining industry in the total volume of  Armenia`s exports has decreasedMinister: The share of the mining industry in the total volume of  Armenia`s exports has decreased
Statistical data, real situation in agricultural sector different -  minister Statistical data, real situation in agricultural sector different -  minister 
FLYONE ARMENIA launches flights to Domodedovo International AirportFLYONE ARMENIA launches flights to Domodedovo International Airport
Armenia, Iran deepen cooperation in mining industryArmenia, Iran deepen cooperation in mining industry
CBA raises refinancing rate from 9.25% to 9.5% CBA raises refinancing rate from 9.25% to 9.5% 
23.9% rise in petrol prices in Armenia in first half of 2022 23.9% rise in petrol prices in Armenia in first half of 2022 
Armenia meets Russia`s brand demandArmenia meets Russia`s brand demand
Armenia is not ready to open the land border with Turkey: ExpertArmenia is not ready to open the land border with Turkey: Expert
Armenia, Qatar discuss possible areas of bilateral cooperationArmenia, Qatar discuss possible areas of bilateral cooperation
Massive arrival of Russians to Armenia, along with movement of their  capital, ensured 7-multifold increase in net inflow of remittances  from Russia in Q2 2022Massive arrival of Russians to Armenia, along with movement of their  capital, ensured 7-multifold increase in net inflow of remittances  from Russia in Q2 2022
Ardshinbank offers a new type of loan for small and medium enterprises.Ardshinbank offers a new type of loan for small and medium enterprises.
Armenia among priority partners of Austrian Development AgencyArmenia among priority partners of Austrian Development Agency
International reserves of Armenia reaches historical maximum by July  2022International reserves of Armenia reaches historical maximum by July  2022
More funds for government-sponsored medical services More funds for government-sponsored medical services 
South Caucasus Railway delivers production equipment from Yerevan to  KrasnodarSouth Caucasus Railway delivers production equipment from Yerevan to  Krasnodar
4% inflation expected in Armenia in medium-term 4% inflation expected in Armenia in medium-term 
Ameriabank leads in list of largest taxpaying banks in ArmeniaAmeriabank leads in list of largest taxpaying banks in Armenia
Armenia`s communication companies pay 25% less as taxes to budget in  1st half of 2022Armenia`s communication companies pay 25% less as taxes to budget in  1st half of 2022
Over 500 Armenian servicemen to benefit from soft lending programmeOver 500 Armenian servicemen to benefit from soft lending programme
Washington to allocate $120mln to Armenia for democratic development,  economic stabilityWashington to allocate $120mln to Armenia for democratic development,  economic stability
17.1% increase in food prices significantly affected low-income  citizens of Armenia - study17.1% increase in food prices significantly affected low-income  citizens of Armenia - study
Armenia, Ethiopia consider development of cooperation in e-governance  and technology educationArmenia, Ethiopia consider development of cooperation in e-governance  and technology education
Armenian assets of GeoProMining Group of Compaines significantly  increase payments to state budgetArmenian assets of GeoProMining Group of Compaines significantly  increase payments to state budget
Vardan Aramyan pointed to risks for Armenia`s GDP and loss of  potential of Russian economy amid IMF`s Vardan Aramyan pointed to risks for Armenia`s GDP and loss of  potential of Russian economy amid IMF`s "Gloomy and More Uncertain"  forecast
Armenia`s vice-premier hosts AMD company vice-presidents Armenia`s vice-premier hosts AMD company vice-presidents 
MFA: Sanctions against Russia have their negative direct or indirect  impact on Armenia`s economic development MFA: Sanctions against Russia have their negative direct or indirect  impact on Armenia`s economic development 
Mirzoyan, Lipavsky note need to fully realize potential of trade and  economic bilateral relationsMirzoyan, Lipavsky note need to fully realize potential of trade and  economic bilateral relations
Zangezur Copper-Molybdenum Combine topped list of taxpayers in  Armenia in H1 2022Zangezur Copper-Molybdenum Combine topped list of taxpayers in  Armenia in H1 2022
Converse Bank completes distribution of bonds ahead of scheduleConverse Bank completes distribution of bonds ahead of schedule
Armenia implements intellectual property development strategyArmenia implements intellectual property development strategy
Iran successfully expands trade with Armenia: Iran TPO headIran successfully expands trade with Armenia: Iran TPO head
Converse Bank offers new loans to SME’sConverse Bank offers new loans to SME’s
Participants of CaseKey Competition visit Team Telecom ArmeniaParticipants of CaseKey Competition visit Team Telecom Armenia
Read more


Exchange rates
09.08.2022
RUB6.72-0.01
USD406.28-0.33
EUR415.501.12
GBP491.88-0.32
CAD315.970.74
JPY30.12-0.04
CNY60.110.05
CHF426.231.48