YEREVAN, November 17. /ARKA/. Bank VTB (Armenia) announced about the reduction of percent rates of dram credits for small business by 3-4%.
From November 15, 2010 to March 1, 2011 Bank VTB (Armenia) will give credits for small business by annual rate of 14% if the borrower is registered in Yerevan or his main business is located in Yerevan and 13% – for the borrowers in the regions. Credits in the amount from 4 million to 60 million drams are provided for 5 years.
“ Bank VTB (Armenia) is making a regular step for the improvement of crediting terms of small business, at the same time assisting the development of small business in the regions of Armenia. We create favorable conditions for the development of business of our clients exempting them from currency risks”, said the Head of Retail Business Development Department of Bank VTB (Armenia) A. Khachatryan.
Bank VTB (Armenia) implements crediting of small business through its broad branch network in the country. By the standards of the Bank, clients of small business are private entrepreneurs and legal entities implementing entrepreneurial activity in the territory of Armenia whose annual income is not over 1 billion drams.
Bank VTB (Armenia) became the participant of international financial group VTB in April 2004. Currently, the second largest bank in Russia – Bank VTB (Open JSC) possesses 100% of shares of CJSC Bank VTB (Armenia).
The Bank is among the leaders of banking system of Armenia by a number of main indicators having the largest branch network in the country – 68 branches. —0–
