YEREVAN, April 5. /ARKA/. With the purpose of loyalty of the clients of small business, Bank VTB (Armenia) launched action “Profitable” by the rate of 12% via its large branch network in Armenia.

In the frames of the action crediting will be implemented by maximum profitable terms - from 2 to 12 million drams or the equivalent of the amount in foreign currency with percent rate of 12% for 12 months.

“Crediting of small and medium business is one of the priorities of our bank. The bank makes its next step in the direction of improvement of crediting terms, thus  promoting small business in Armenia”, Head of Directorate of Bank VTB (Armenia) Valeri Ovsyannikov says.

Credits are provided in all the branches of the bank as in Yerevan, as well as in the regions of Armenia. According to the standards of the bank, clients of small business are considered private entrepreneurs and legal entities implementing entrepreneurship activity in the territory of Armenia whose annual income does not exceed 1 billion drams.

Cjsc “Bank VTB (Armenia)” became the participant of international financial group VTB in April 2004. At present, the second largest bank of Russia Open JSC “Bank VTB” possesses 100% shares of “Bank VTB (Armenia)”. The Bank is among the leaders of banking system of Russia by its indicators. Currently the Bank has the largest branch network in the country – 68 branches.

As of December 31, 2010 the assets of the bank were 127.4 billion drams, liabilities – 98.0 billion drams, total capital – 29.4 billion drams, charter capital – 13.9 billion drams, credit investments – 80.7 billion drams, liabilities to the clients of the bank – about 56.8 billion drams and the net income in 2010 – 4.3 billion drams (by this indicator the bank is in the second place in the banking system of Armenia). ($1- 370.20 drams). -0-