YEREVAN, August 3. /ARKA/. Bank VTB (Armenia) launched a new product for the segment of medium business - “Available” credit.

“Today many banks of Armenia consider not reasonable to finance the business from zero as such transactions have a high level of risk. Taking into account the demands of our clients and with the purpose of expanding the line of products of the bank, we changed the process of assessment of creditability and reviewed the terms of financing the segment of medium business providing more flexible and optimal approach. Bank VTB (Armenia) is always ready to support the clients of medium business for promoting the development of the given segment in the territory of Armenia”, said the Head of Corporate Business Development Department Mary Mamikonyan.

This type of credit will be available for the legal entities of medium business which are implementing entrepreneurial activity in the territory of Armenia not less than 3 (three) calendar months. Using this product, representatives of medium business can not only expand their existing business but also open new directions of activity.

Crediting can be available in maximum short time. The terms of reviewing the application for credit is up to 7 days. Credit is provided in US dollars for 3 years. Percent rate is from 12% annually. Maximum size of credit is up to $1 million.

CJSC “Bank VTB (Armenia)” became participant of international financial group VTB in April 2004. Currently it is the second largest in Russia, VTB Bank (CJSC) owning 100% of shares of “Bank VTB (Armenia)”. The Bank is traditionally among the leaders of the banking system of Armenia by a number of key indicators. The Bank now owns the largest branch network in the country - 68 branches -0-