by Erik Abrahamyan
VTB Bank (Armenia) has launched a deposit action, which is a chance for each customer holding a no less than 100,000 AMD VTB Perspective+ deposit to get his or her interest at once when placing the deposit. The length of the deposit will be either 180 days or 365 days, the interest 12.5% at highest.
The press service of the bank reports that the action will last till July 30. The deposit should be in AMD but can be opened by both a resident and a nonresident.
VTB Bank (Armenia) has different types of deposits and offers the highest interest on AMD deposits on the Armenian market – 14.75%
According to ArmInfo's Financial Rating of Banks of Armenia, VTB Bank (Armenia) has one of the three biggest time deposit portfolios – 106.5bln AMD or 41% of its obligations. 80% of time deposits are personal deposits. In 2013 the bank's capital grew by 24% to 37.5bln AMD. The authorized capital made up 13.9bln AMD, the profit 4.9bln AMD (the highest in Armenia's banking sector). In Mar 2013 VTB Bank (Armenia) increased its authorized capital to 20.8bln AMD by issuing additional shares worth 7bln AMD. VTB Bank bought all of the shares and retained its 100% stake in the bank.