VTB BANK (ARMENIA) LOWERS INTEREST RATES ON LENDING TO LARGE AND MEDIUM-SIZED BUSINESSES
ARKA
May 17, 2010
YEREVAN
YEREVAN, May 17. / ARKA /. VTB Bank (Armenia) has decided to lower
interest rates on lending to large and medium-sized businesses,
the bank’s press service told ARKA news agency Monday.
"Legal entities and individual entrepreneurs engaged in core activities
in the territory of Armenia with a least gross annual revenues of 1
billion Drams can get business loans with effective interest rate of
10% per annum," the press office said in a statement.
According to the bank, VTB Bank (Armenia) will offer short, medium
and long-term credit instruments.
VTB Bank (Armenia) became a member of the international financial group
VTB in April 2004. VTB is the second largest bank in Russia VTB Bank
owing 100% stake in VTB Bank (Armenia). The Bank has traditionally
been a leader in the banking system of Armenia in a number of key
indicators. The Bank now owns the largest branch network in the
country – 68 branches.
From: Emil Lazarian | Ararat NewsPress
Disclaimer: This article was contributed and translated into English by Emil Lazarian. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.
Direct link to this article: https://www.armenianclub.com/2010/05/18/vtb-bank-armenia-lowers-interest-rates-on-lending-to-large-and-med/
