VTB BANK (ARMENIA) REDUCES MORTGAGE AND AUTOCREDITS RATES
ArmInfo
2009-10-22 13:04:00
ArmInfo. VTB Bank (Armenia) has declared about significant reduction
of the mortgage and autocredits rates. It has also accelerated the
process of credit giving to debtors.
As press-service of the bank reported, in the mortgage crediting to
buy real estate the bank reduced the interest rate from 19,5% to 14%,
and autocredits – from 18% to 12%. Thanks to introduction of the
new system of retail risk-management, only 3 labor days ate needed
to discuss auto-credit applications, and 5 days – mortgage credits,
since the day of submitting the whole package of documents to the bank.
According to Ranking of commercial banks of Armenia, prepared by
ArmInfo, as of 1 July 2009 credit portfolio of the VTB Bank (Armenia)
amounted to 67.5 bln drams (3-rd position), 17% of which was the
share of the mortgage credits – 11.4 bln drams (3-rd position).