Sun, 6 April
6.1 C
Yerevan
USD: 391.22 RUB: 4.63 EUR: 431.28 GEL: 142.08 GBP: 508.39
spot_img

Borrowers in Armenia increasingly showing favor to national currency

YEREVAN, September 27. /ARKA/. Yuri Gusev, acting CEO of VTB Bank (Armenia) and the chairman of the bank’s directorial board, speaking Thursday at a televised conference involving representatives of VTB Group’s subsidiaries in Armenia, Kazakhstan and Ukraine, said that the population in Armenia has a feeling of another pending global economic crisis which prompts them to shift to their national currency when borrowing money from local banks.

Mikhail Zadornov, VTB24 bank president and chairman of the bank’s board, who spoke at the same teleconference, answering ARKA News Agency’s question, said that VTB Group aims to lending money exactly in national currencies.

“Only this shapes a healthy balance and a healthy business and also shields our retail clients and banks from interest and credit risks,” he said. “We don’t rule out lending in foreign currencies completely, unless it is banned by the law, as is the case in Ukraine, however, we would like lending in foreign currency to drop to an insignificant portion of the overall lending.

VTB Bank Armenia joined VTB Group in April 2004. VTB, the second largest bank of Russia, holds 100% of shares of VTB Bank (Armenia). VTB Bank (Armenia) has 69 branches all over Armenia’s territory – the largest branch network in the country. VTB Bank (Armenia) is traditionally reckoned among leaders for general indicators. -0—

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Arka news agency’s ranking of most profitable Armenian banks in 2019

In 2019, Armenia-based commercial banks earned a total of 78.8 billion drams in net profit, up from 56.4 billion drams they had earned in 2018, according to ARKA news agency's ranking of the most profitable commercial banks in the fourth quarter of 2019

Top ten Armenian banks by size of lending in 2019

In 2019, the overall loan portfolio of Armenia's banking sector grew by 16.4% to 3.572.2 trillion drams

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

LATEST NEWS

spot_imgspot_imgspot_img