VTB BANK (ARMENIA) LOWERS INTEREST RATES ON LENDING TO LARGE AND MEDIUM-SIZED BUSINESSES

ARKA
May 17, 2010
YEREVAN

YEREVAN, May 17. / ARKA /. VTB Bank (Armenia) has decided to lower
interest rates on lending to large and medium-sized businesses,
the bank’s press service told ARKA news agency Monday.

"Legal entities and individual entrepreneurs engaged in core activities
in the territory of Armenia with a least gross annual revenues of 1
billion Drams can get business loans with effective interest rate of
10% per annum," the press office said in a statement.

According to the bank, VTB Bank (Armenia) will offer short, medium
and long-term credit instruments.

VTB Bank (Armenia) became a member of the international financial group
VTB in April 2004. VTB is the second largest bank in Russia VTB Bank
owing 100% stake in VTB Bank (Armenia). The Bank has traditionally
been a leader in the banking system of Armenia in a number of key
indicators. The Bank now owns the largest branch network in the
country – 68 branches.

From: Emil Lazarian | Ararat NewsPress