YEREVAN, August 13. / ARKA /. VTB Bank (Armenia) has not revised the interest rates or other terms on earlier issued loans and does not plan to do so in future without a legal basis, the bank said in a press release today.
This statement was made in request to customers’ inquires concerning the probability of raising interest rates on already existing credit agreements.
The bank said a change in the loan agreement can be made by mutual consent of the parties only and it must be legally registered.
“The Bank has acted and continues to act solely within the laws of Armenia”, the report says.
In late June 2015 VTB Bank (Armenia) total assets were worth 316.8 billion drams (a decline of 12.3% from the beginning of the year); its liabilities stood at 287.2 billion drams (a decline of 13%); its capital was worth 29. 6 billion drams (a 3.5% decline).
VTB Bank (Armenia) is owned entirely by Russian VTB Group. It runs 67 branches across Armenia. -0-
