VTB Bank (Armenia) launched a "Toward Business" offer for small  businesses

ArmInfo.VTB Bank (Armenia) launched the "Toward Business" offer for small businesses. As ArmInfo was informed in the press service of the bank, this promotion action will last until December 31, 2019.

Within the framework of the offer, legal entities and individual  entrepreneurs will be able to obtain an unsecured business loan in  the amount of up to 7 million drams, with a repayment period of 6 to  48 months. 

For the first six months, this loan has a preferential interest rate  of 10%, and starting from the 7th month it automatically changes to  17% per annum, which corresponds to the current rate in the bank.

<By launching the <Toward Business> offer, VTB Bank (Armenia)  promotes the development of small business in Armenia and eases the  financial burden on its representatives>, the statement says.   According to the source, both new and existing customers who want to  take a new loan can take advantage of this promotion. You can apply  for a loan at all branches of the bank. The process of making  decisions and obtaining a loan lasts up to 8 hours.

Detailed information on the conditions and tariffs of the "Toward  Business" promotion can be found in the branches of VTB Bank  (Armenia), on the official website www.vtb.am and in the Bank's  Contact Center at 87-87.  

According to the Financial Rating of the Banks of Armenia as of  December 31, 2018 prepared by ArmInfo IC, VTB Bank (Armenia) is  included in TOP-5 on credit investments, with a collateral of 213.7  billion drams ($ 441.7 million, with an annual growth of 24.6%). In  the bank's loan portfolio, the share of lending to SMEs exceeds 34%,  amounting to 73 billion drams or $ 150.9 million in absolute terms  (4th position in the market). And in the total credit investments of  banks in the SME sector, the share of VTB Bank (Armenia) almost  reaches 10%.  

It should be noted that VTB Bank (Armenia) CJSC became a member of  VTB International Financial Group in April 2004. Currently, the  second largest asset in Russia, VTB Bank (PJSC) owns 100% of the  shares of VTB Bank (Armenia). The Bank traditionally ranks among the  leaders of the banking system of the Republic of Armenia in terms of  key indicators. In terms of coverage of the branch network, VTB Bank  (Armenia) maintains leadership, both in terms of their total number  and regional divisions.