VTB Bank (Armenia) Lowers Interest Rates On Lending To Large And Med

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

Emil Lazarian

“I should like to see any power of the world destroy this race, this small tribe of unimportant people, whose wars have all been fought and lost, whose structures have crumbled, literature is unread, music is unheard, and prayers are no more answered. Go ahead, destroy Armenia . See if you can do it. Send them into the desert without bread or water. Burn their homes and churches. Then see if they will not laugh, sing and pray again. For when two of them meet anywhere in the world, see if they will not create a New Armenia.” - WS