VTB Bank (Armenia) offers small businesses more affordable loans at reduced annual interest rate - starting from 13%, as well as loan facilities at the annual interest starting from 14%. A business loan for replenishment of the key assets is provided for a period of up to 5 years. Loans for replenishment of the circulating assets have a maturity of up to 3 years.
The bank's press-office told ArmInfo the loan and the loan facility are provided to private businessmen, resident enterprises, that have been engaged in business activity in the field of trade, construction, industry, services and others in Armenia for at least 6 months.
According to the source, VTB Bank (Armenia) continues to expand its list of products for small businesses considering the needs of its customers and the peculiarities of their businesses. According to ArmInfo's Financial Rating of Armenian Banks, VTB Bank (Armenia) is the leader in terms of SME finance - 97,4 billion drams as of July 1 2015. The SME finance accounts for over 46% of the bank's loan portfolio and almost 17% of the total SME finance in the banking system of Armenia. VTB Bank (Armenia) is the leader also by agricultural, construction, trade and industrial loans. The corporate loans of the bank account for more than 61% of its total loan portfolio ensuring for it a place among TOP-5 banks.
VTB Bank (Armenia) joined VTB Group in April 2004 and is fully owned by VTB Bank, the second biggest bank in Russia. VTB Bank (Armenia) is one of the leaders of Armenia's banking sector. It has 67 branches all over the country (the largest branch network in Armenia).