YEREVAN, May 23. /ARKA/. Bank VTB (Armenia) is offering a ‘Credit of Trust’ to its clients running companies in trade, construction and production.
The loan is a quick and convenient way of borrowing money from the bank for business development projects, the bank’s press office reported.
The loan is extended to clients running their companies for more than 6 months, based on current loans that were being paid back with no delays during 6 months.
Trusting its current borrowers the bank does not request security and financial analysis of their businesses which reduces the time needed to get the loan, according to the report.
Loans are extended in US dollars for 15 months; the maximum amount is 10,000 USD.
General director-chairman of directorate of Bank VTB (Armenia) Yury Gusev said lending to small and medium-sized businesses enables the clients implementing new projects without taking money out of the turnover.
Bank VTB (Armenia) closed joint stock company became a member of VTB financial group in April 2004. The second biggest Russian bank, Bank VTB open joint-stock company, is now the full owner of Bank VTB (Armenia). The bank used to be among leaders of Armenian banking system on a number of basic indicators. Currently the bank has the biggest network in Armenia – 67 branch offices throughout the country. –0–
