by Erik Abrahamyan
VTB Bank (Armenia) announces a summer POS lending campaign at reduced rates and without any advance payment. The press service of the Bank has told ArmInfo that the customers can receive a loan before 16 September 2014 to do shopping at certain trade and service outlets of the Bank's partner companies not only in Yerevan but also in the marzes of Armenia.
The source says that the loans are provided for 3-48 months. VTB Bank (Armenia) has 690 points of lending for installment purchase throughout Armenia and is one of the market leaders. The lending process is simple. The customers can receive the loans at the relevant stores within 25 minutes by presenting their passports and social cards only. The list of the Bank's partners and the relevant trade outlets, as well as the lending terms are available on the Bank's website vtb.am.
According to ArmInfo's Rating of Banks of Armenia, as of Apr 1 2014 VTB Bank (Armenia) had the biggest consumer loan book - 79.4bln AMD or 33% of all loans (243.1bln AMD). 40% of the bank's loans or 96.1bln AMD are personal loans.
VTB Bank (Armenia) joined VTB Group in Apr 2004 and is owned by VTB Bank from Russia. The bank has the largest branch network among Armenia's banks (67 branches all over the country).