YEREVAN, September 28. /ARKA/. VTB Bank (Armenia) said today it is stepping up lending to small and medium-sized businesses, saying in a press release that entrepreneurs can get a loan from VTB Bank (Armenia) to start a new business or develop the already existing one on the most favorable terms.

More specifically, the Russian-owned bank offers loans and credit lines in Armenian drams at the reduced interest rate of 13%. The new product line also includes unsecured loans up to 5 million drams with a minimum period of consideration and approval.

Loans are provided with maturity periods from 36 months for increasing working assets, and up to 60 months for refinancing. Credits and credit lines are provided to individual entrepreneurs, legal entities, who are residents of Armenia running their businesses in the country in such areas as trade, construction, production, provision of services, etc.

For detailed information on the terms of lending one should visit a branch of the bank, as well as call 87-87.

VTB Bank (Armenia) CJSC became a participant of the international financial group VTB in 2004. Currently, VTB Bank, the second largest in Russia, owns 100% of VTB Bank (Armenia). The bank runs 67 branches across Armenia. ($ 1 - 482.25 drams). -0-