YEREVAN, May 23. /ARKA/. In the first quarter of 2016 VTB Bank (Armenia) has seen a twofold year-on-year increase in the number of applications from its customers to restructure their loans.
“In an unstable economic situation, VTB Bank (Armenia) pays special attention to the support of its customers and restoration of their solvency. One of the main tools for solving this problem is to restructure their loans,’ the bank said in a press release.
Since January 1, 2016 to April 30, 2016 the Bank considered 241 individual loan restructuring applications satisfying only 23% of them.
Incidentally, 63% of applications were denied because customers appeared to be unable to produce all the required documents.
According to the press release, since the beginning of 2016 to April 30, 2016 some 719 out-of court agreements worth 511 million drams were signed.
The bank’s assets grew by 1.48% in the first quarter from the beginning of the year to 314.7 billion drams; its liabilities increased by 1.29% to 272.7 billion drams; its total capital grew by 2.7% to 42 billion drams and its credit investments fell by 3.67% to 176.9 billion drams.
VTB Bank (Armenia) was entirely acquired by Russian VTB Group in 2004. It runs 67 branches across Armenia, more than any other local bank.-0- ($ 1 – 477.63 drams). -0-
