YEREVAN, September 27. /ARKA/. Mikhail Zadornov, VTB24 bank president and chairman of the bank’s board, speaking Thursday at a televised conference involving representatives of VTB Group’s subsidiaries in Armenia, Kazakhstan and Ukraine, said that the POS-lending portfolio of VTB Bank (Armenia) amounts now to more than 57 million Russian rubles.
The POS-lending program allows formalizing credits directly in shops – the bank credits up to 100% of goods’ cost and demands no guarantors.
The POS lending was introduced in Belarus in 2010 and in Armenia in 2011.
VTB Bank (Armenia) extended 3,400 loans amounting to 44.5 million Russian rubles in the 1st H 2012 alone.
“Now more than 100 sale points offer VTB Bank (Armenia) credits,” Zadornov said. “The success of the project will allow the bank to increase the number of sale points to 225 before the end of this year.”
Noting that collateral loans secured by golden jewelry are very popular in Armenia and Georgia, he said that VTB Group offers also other, unique in Russia, products in the CIS territory.
“It means that not only Russian experience is being adopted by other countries. We too are analyzing carefully our colleagues’ products and services sales experience to adopt it,” he said. M.V.-0—
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—
