YEREVAN, February 22. /ARKA/. Cooperation between VTB Bank (Armenia) and Photon LLC in the framework of documentary operations is key to the successful fulfillment of the company’s contractual obligations, the press service of the bank said in a press release.
VTB Bank (Armenia) and Photon LLC have been cooperating for several years already. The company has been a bank customer since 2017 for making interbank transfers, non-cash foreign exchange transactions and payments to the state budget.
Since 2020, the company has been actively cooperating with VTB Bank (Armenia) in the framework of documentary operations: the bank periodically, depending on the needs of the company, acts as guarantor of the company’s contractual obligations before its counterparties.
Photon LLC runs diversified businesses: the company is one of the largest importer of food products, including various types of cereals and pasta from Russia. It is also a major manufacturer of office, kitchen and upholstered furniture.
As a leading company in the local furniture production industry and wholesale food market, Photon LLC actively participates in tenders for the production and supply of furniture and furniture accessories (office furniture) and the purchase and supply of food (mainly for kindergartens).
Financing of Photon LLC by VTB Bank (Armenia) is key to the successful fulfillment of the company’s contractual obligations, enabling it to develop, conclude large contracts, preserve its own funds and assets, effectively use its revenues and expand competitive advantages. Not stopping at what has been achieved, Photon LLC plans to develop further its business.
VTB Bank (Armenia), attaching special importance to lending and servicing small and medium-sized businesses, develops an individual approach to financing each client, taking into account the specifics of their business activity.
A bank guarantee is a type of financial backstop offered by a lending institution. The bank guarantee means that the lender will ensure that the liabilities of a debtor will be met. A bank guarantee enables the customer, or debtor, to acquire goods, buy equipment or draw down a loan.
This financing instrument is the best and most effective for contractor / supplier companies that enter into large contracts with supply partners, as well as for companies that intend to participate in public procurement and tenders.
The bank guarantee testifies to an additional positive assessment of the customer’s business, since before providing a guarantee, the bank carefully examines the client’s reputation. For this reason, the bank guarantee acts as additional evidence of the financial stability of the company, its ability to fulfill its obligations under the contract.
More detailed information about the financial instruments of VTB Bank (Armenia) can be obtained on the official website of the Bank at //www.vtb.am/ru/financial/financial-tools, at its branches or by calling the Contact Center at 87-87 .
The bank is controlled by the Central Bank of Armenia.
VTB Bank (Armenia) cjsc became a member of the international financial group VTB in April 2004. At present, PJSC VTB Bank, the second largest in Russia, owns 100% of the shares of VTB Bank (Armenia). -0-
