YEREVAN, August 20. /ARKA/. VTB Bank (Armenia) said today from now the population can use their diamonds to receive a secured loan from the bank.

The loans against can be arranged within minutes at the following branch offices of the bank – “Erebuni”, “Number 15”, “Shahumyan”, “Giumry” and “Vanadzor”, according to the report. Applicants need to provide an identity card and social security number only. Citizens under 21 and above 65 are not eligible for the loan.

The loans are provided both against gems and diamond jewelry in Armenian drams at a rate from 22%, for 540 days at maximum.

VTB Bank (Armenia) closed joint stock company became a member of VTB financial group in April 2004. The second biggest Russian bank, Bank VTB open joint-stock company, is now the full owner of Bank VTB (Armenia). The bank used to be among leaders of Armenian banking system on a number of basic indicators. Currently the bank has the biggest network in Armenia – 67 branch offices throughout the country.

Assets of VTB Bank (Armenia) amounted to 312.5 billion drams as of July 1; the bank’s liabilities were 268.5bln drams, capital about 44bln drams, loan investments about 230.3bln drams.  ($1- 408.2 drams). –0--