{"id":80036,"date":"2014-10-02T15:05:39","date_gmt":"2014-10-02T15:05:39","guid":{"rendered":"https:\/\/armbanks.am\/2014\/10\/02\/241548\/"},"modified":"2024-12-15T13:13:45","modified_gmt":"2024-12-15T13:13:45","slug":"beneficiaries-of-government-financed-benefits-may-open-accounts-at-vtb-bank-armenia","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2014\/10\/02\/80036\/","title":{"rendered":"Beneficiaries of government-financed benefits may open accounts at VTB Bank (Armenia)"},"content":{"rendered":"<p><strong>YEREVAN, October 2. \/ ARKA \/.<\/strong> VTB Bank (Armenia) said beneficiaries of a government-financed one-time allowance may open accounts at its head office and branches. According to a press release, the offer results from an agreement the Russian-owned bank has signed with the Ministry of Labor and Social Affairs.<\/p>\n<p>It said the accounts are meant for receiving lump sum benefits (the so-called family capital) given to families for the birth of the third and subsequent child. The account can be opened by parents (foster \/ adoptive) in the name of a newborn baby in Armenian currency with annual interest rate of 11%.<\/p>\n<p>The child can manage the deposit upon reaching 18 years. However, the parents (foster \/ adoptive) can replenish the deposit; make wire transfers to pay principal or interest on a mortgage and pay also the child\u2019s tuition fees and insurance.<\/p>\n<p>VTB Bank (Armenia) is a 100 percent subsidiary of Russian VTB Bank. It runs 67 branches across the country.<\/p>\n<p>The bank&#8217;s assets as of July 1, 2014 stood at 312.5 billion drams, the liabilities \u2013 at 268.5 billion drams, its credit investments \u2013 at 230.3 billion drams and its capital \u2013 at about 44 billion drams. ($ 1 407.58 drams).-0 &#8211;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>VTB Bank (Armenia) said beneficiaries of a government-financed one-time allowance may open accounts at its head office and branches. 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