VTB Bank (Armenia) initiates criminal charges

18.04.2013 15:03
VTB Bank (Armenia) initiates criminal charges

YEREVAN, April 18. /ARKA/. VTB Bank (Armenia) said Thursday it applied to the law enforcement agencies to initiate a criminal case against the individuals who had violated the contract regulations with the bank.

Since October 2011, VTB Bank (Armenia) has been offering POS lending to the residents of Armenia (POS loans enable durable goods to be bought and paid for in installments). During that period the bank has reached agreements with many organizations operating in Armenia, particularly those selling computer hardware and household appliances.

Thus, in order to buy goods in installments from the organizations mentioned above, individuals should sign a contract with VTB Bank (Armenia) and strictly fulfill all their commitments. In accordance with the contract, goods that are paid for in installments are to secure the loan. A selling company is obliged to preserve the loan distribution order and all the other conditions within the contract.

Monitoring of VTB Bank (Armenia) revealed that  individual A.K. had violated his commitments and could be even involved into illegal activities.

A.K. was said to cooperate with the bank and sell computer hardware  at the following address: Yerevan, 12, Garegin Nzhdeh street.

“Bearing in mind the fact that such actions raise high risks and huge threats  for the bank and Armenia’s whole banking system, VTB Bank (Armenia) applied to the law enforcement agencies with the request to reveal all the individuals involved into illegal activities and bring them to criminal justice,” the bank’s press service reported to ARKA.

VTB Bank (Armenia) joined VTB Group in April 2004. VTB, the second largest bank of Russia, holds 100% of shares of VTB Bank (Armenia). VTB Bank (Armenia) has 67 branches all over Armenia’s territory. It  is traditionally reckoned among leaders for general indicators. -0-


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