VTB Bank (Armenia) raised rates on annual dram deposits to 10%

ArmInfo. VTB Bank (Armenia), with a view to maximizing the conditions and increasing the profitability of its depositors, announced an increase from June 26  on annual dram deposit rates to 10%. The press service of the Bank  informed ArmInfo about this.

Thus, VTB Bank (Armenia) created the most favorable conditions for  reliable and profitable storage and exaggeration of savings. Already,  customers can start saving for school fees, New Year holidays, etc.,  and the Bank, in turn, will increase customer funds in the form of  interest payments.

VTB Bank (Armenia) has a wide range of deposits: with high yield, but  without the possibility of replenishment and write-offs; with the  possibility of replenishment; with the possibility of replenishment  and write-offs; long-term deposit ; deposit   specifically for depositors of retirement age.

The registration of the deposit with the Bank lasts up to 5 minutes,  for which it is possible to hold the queue in the desired branch at a  convenient time in advance and, having come to the branch,  immediately conduct the transaction.

For further replenishment of the deposit, there is no need to visit  the Bank's branches, since the replenishment can be made through more  than 2,000 payment terminals TelCell and EasyPay, evenly located in  Yerevan and regions.

To ensure maximum customer comfort, the Bank has one more special  tool - a periodic payment order, which the client can receive without  additional actions when receiving salary to send a part of the funds  to replenish the deposit.

In addition to the reliability of the Bank itself, the Deposit  Guarantee Fund also ensures the reliability of the deposit, which  guarantees up to 100% deposits in drams up to 10 million AMD and in  foreign currency up to 5 million AMD.

According to the Financial Rating of Armenian Banks prepared by IC  ArmInfo, the portfolio of time deposits of VTB Bank (Armenia) as of  January 1, 2018 amounted to 99 billion drams, of which 85.6 billion  is individuals' funds. In the structure of the Bank's liabilities,  the share of term deposits is 56.4%. On the time deposit portfolio,  the Bank occupies the 7th position on this date, and on the term  deposits of natural persons - the 6th position. (The calculated  exchange rate of AMD as of December 31, 2017 was 484.10 dr / $ 1).

"VTB Bank (Armenia)" JSC became a participant of the international  financial group VTB in April 2004.  At present, VTB Bank, the second  largest bank in Russia, owns 100% of VTB Bank (Armenia). The Bank is  traditionally one of the leaders of the banking system of the  Republic of Armenia in terms of key indicators. The branch network of  VTB Bank (Armenia) covers 67 units with presence both in the capital  and in all areas.