VTB Bank (Armenia) announces ‘Business People’ package offer

04.11.2016 15:03
VTB Bank (Armenia) announces ‘Business People’ package offer

Ivan Telegin, retail business director at VTB Bank (Armenia), spoke for ARKA News Agency about merits of the preferential servicing program.

- VTB Bank has announced ‘Business People’ new package offer. Could you please point out the program’s essence and merits?

- We have developed a special program for out key clients – employees of state-run organizations, such as ministries, law enforcement agencies etc, as well as healthcare, education, It companies and telecommunication operators. The program targets public officers, doctors, teachers, law enforcement agencies’ officers and representatives of IT companies.
This program will allow the bank to continue servicing its present clients in a new way and also to attract new clients from the market.
The program is more advantageous than other offers at the market. Many services here will be free for clients.
It is difficult to gauge social and economic contribution of the mentioned segments to the country’s development. I can say that the bank is trying to foster these clients and is developing cooperation with them.

- What exactly VTB Bank (Armenia) offers?

- The package program we have developed is called ‘Business People’, and this reflects activities of particular segments which ensure the country’s activity. I particular, we offer:

•    free cards (from standard to bonus cards);
•    consumer loans at interest rates starting from 14.5% given that the average interest rate for consumers loans is 20 to 21 percent now in the country. Important is that we rid clients of the mentioned categories of red tape since we require no additional papers for formalizing loans;
•    insurance formalization that 25 percent cheaper than the bank’s standard fees;
•    free Internet banking;
•    free SMS banking.

Developing this program, we have taken into account that these clients are borrowing money from other sources, and 20-21% interest rates put additional burden on them, taking away a part of their salary, which could be spent on other needs.

“Business People” program will allow us to maintain long-term relations with our clients by offering them preferences – discounts, free servicing, additional services etc.

And a program of redemption of such clients’ loans from other banks allows cutting clients’ spending on bank servicing and leaves them with more money in their parcels.

- How many people may become your potential clients?

- Potentially, we may have 350,000 new clients and we expect that this program attract numerous clients for its transparent and liberal terms.
In addition to the preferences mentioned above, we add 3 percent to the card balance (in drams), which is a pleasant bonus to all those who doesn’t spend the whole sum of the salary at once and are trying to accumulate some part for future needs.
VTB Bank (Armenia) provides Internet banking, SMS banking, card servicing, cash withdrawal from ATMs, issuance and re-issuance of cards for free.
We will also have a modern and hi-tech Mobile bank soon, which will be offered to this category of clients for free as well.
Taking into consideration that, as a rule, the public segment’s employees have no free time, we have launched ‘Bank at Work’ service.
This means that a personal manager will be set up for each of these organizations in the next two months and that there will be no need to visit bank and to waste time for standing in queues. It will be enough to call by phone and ask the bank to formalize one or another service or to invite the manager for consulting.

- Why the bank is interested in public sector’s employees?

- This is our bank’s traditional key client segment. Some 100,000 representatives of public sector are already our clients, and we find it very important to preserve and develop relations with this category.
You can ask what the bank benefit from this if everything is free of cheap. The answer is that this is the most reliable client segment in terms of risks and one of the most loyal segments. And this allows the bank to change its price policy downward.
This is this category is the most reliable segment across the world – there is no migration among segments and that is why we want to develop our relations with it.

- Is this program available also to members of the public sector employees’ families?

- We are just making necessary preparations for servicing out clients comprehensively. This means that it will become possible in the future to provide the same services also to members of their families. M.V.---0---

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