Tue, 8 July
29.1 C
Yerevan
USD: 384.19 RUB: 4.90 EUR: 450.58 GEL: 141.45 GBP: 521.65

VTB Bank (Armenia) makes gold-secured loans more convenient for clients

YEREVAN, December 2. /ARKA/. VTB Bank (Armenia) has made loans secured by golden jewelry more affordable for its clients, the press office of the bank reported on Wednesday.

Demand for the gold-secured loans is highest at the market. “When financial resources become necessary and one has golden jewelry, formalization of a gold-secured loan in VTB Bank (Armenia) is a convenient and safe solution,” the pres release says.

The loan formalization takes 20 minutes and requires only one visit to the bank.

According to the press release, VTB Bank (Armenia) extends gold-secured loans to Armenian residents in drams. Only an identification documents and the number of social card are needed.

The bank lends no more than AMD 3 million at nominal interest rates starting from 22%.
It accepts golden jewelry and diamonds (on jewelry or separately) as pledges.

“The bank offers the assessed cost beneficial to clients, and loan-pledge ratio is set at 100%,” the bank’s press office says in the news release. “Assessing the cost of jewelry, the bank doesn’t take into consideration artistic merits and other precious and other stones.”

To formalize a loan it is necessary to visit any of the bank’s 65 branches.
“You can receive more detailed information by calling VTB Bank (Armenia) enquiry service (87-87) or visiting the bank’s official website,” the press release says.

VTB Bank Armenia (Armenian Savings Bank before June 2006) 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 67 branches all over Armenia’s territory – the largest branch network in the country. VTB Bank (Armenia) is reckoned among leaders for its general indicators.—-0—

spot_img

POPULAR

Moody’s affirms Armenian government ratings at Ba3 with stable outlook

On June 26, 2025, Moody's affirmed the long-term issuer ratings in national and foreign currencies and senior unsecured debt in foreign currency of the Armenian government at Ba3, maintaining the stable outlook, the press service of the Ministry of Finance of Armenia reported.

Inflation of 3.9% registered in Armenia in June

In the consumer market of Armenia, 12-month inflation in June of this year amounted to 3.9%, according to the report of the National Statistical Committee (NSC) of Armenia.

Net inflow of remittances to Armenia from abroad increased by 13.9% over 5 months

The net inflow of private remittances in Armenia from abroad sent through the  banks in January-May 2025 amounted to $511.7 million, compared to $449.4 million in January-May 2024, according to a report by the Central Bank.

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 10 banks of Armenia by loan portfolio for 1st H 2020

ARKA News Agency has singled out ten banks for their big loan portfolios as of June 30, 2020

LATEST NEWS

spot_imgspot_imgspot_img