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VTB Bank (Armenia) offers overdraft to universal credit companies to provide urgent current needs promptly

  • by Erik Abrahamyan

  • Saturday, April 26, 02:13

VTB Bank (Armenia) offers overdraft to universal credit companies, as a convenient way for replenishment of the operating account if there is shortage of their own funds. As press-service of the bank reported, the product is offered to the universal credit companies at the territory of Armenia with not less than 12 months activity. 

The overdraft will be given in Armenian drams or foreign currency for one year term on the basis of analysis of a UCO activity. 

Director General of VTB Bank (Armenia), Yuri Gusev, said: "A new overdraft from VTB Bank (Armenia) offers good conditions to universal credit companies. We are targeted at increasing or preserving of the volume of attracted funds at the expense of the required credit circulations. This will let the bank to enhance its positions at the finance market and to increase its share in providing services to the financial sector. I am confident that such a support will become a new stimulus for development of the crediting market". 

For the detailed information please visit the website of the bank www.vtb.am or call 87-87.

According to the Financial Rating of Armenian Banks prepared by Arminfo, VTB Bank is the first on the consumer crediting. As of 1 January 2014, it ensured the volume  70.6 billion AMD (about 32% of the credit portfolio of the bank) - by 38% more versus 1 January 2013. By the overdraft credits, the bank is in the TOP-3. The new service - overdraft to UNO will make it possible for the bank to keep the leading position on corporative crediting and to increase the consumer portfolio even more. 

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). 

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