By 1 April 2016, the amount of the overdue loans in Armenian banks grew by 22.5% over year to 45.4 bln AMD. According to the Armenian Central Bank's data provided to ArmInfo by the National Statistical Service of Armenia, the amount of extended loans totaled 114 bln AMD, with a 12.9% year-over-year decline.
Two-fold growth of applications for restructuring of loan debt has been registered in VTB Bank (Armenia) in Q1 2016 versus Q1 2015. As the press-service of the bank told ArmInfo, the two-fold growth was registered also in terms of approved applications, while the number of refusals from restructuring by the clients reduced to 57%. This testifies that more and more number of borrowers realizes that solving problems on the early stages is one of the most efficient mechanisms of financial recovery.
20% of the expenditures of the state budget 2016 (1 trillion 373.7 bln AMD) will be spent on serving the state machine's needs. It is inexpedient and it is necessary to put an end to it, economist Vardan Bostanjyan told reporters on May 23, when commenting on Armenian Prime Minister Hovik Abrahamyan's statement about the need to save public funds.
ACBA Leasing company is participating as financial partner in the Week of Economic Capacities, which is being held in Yerevan on May 19-22 within the German Society for International Cooperation (GIZ) "Private Sector Development in the South Caucasus. Economic Integration of Syrian Armenians" Program, Marketing Specialist of ACBA Leasing Julia Nickoghosyan told ArmInfo's correspondent on May 20.
Names of four winners of "Certification of Organic Agricultural Product" contest are known. ACBA-Credit Agricole Bank and Nature and Biodiversity Conservation Union (NABU) held the contest. As the press-service of the bank informed ArmInfo, "Mer Sarer" LLC (production of honey), "Mega Ararat" company (gathering of mountainous fruits and plants, production of tea), "Armberry" (raising of raspberry) and private entrepreneur Vahagn Hakobyan (raising of blackberry) are the winners.
ACBA-Credit Agricole Bank will hold a free business seminar for the heads of SMEs on May 24-27, the Bank's press-office told ArmInfo. According to the source, the seminar will cover 5 key topics, offering theoretical knowledge and practices for optimal business management and use of a number of marketing instruments. The upcoming seminar will be dedicated to "Optimization of Business Management" and "Practical Marketing", but the list of the topics will shortly be expanded.
VTB Bank (Armenia) retains leadership on the plastic cards market in terms of both the number of cards and amount of transactions. By 1 April 2016, the number of active cards of the Bank totaled 496.6 thsd, with the total amount of transactions exceeding 210.3 bln AMD. The press office of the Bank has told ArmInfo that the Bank retains leadership by not only the total number of plastic cards but also by Visa cards - over 418.2 thsd as of 1 April 2016. At the same time, the Bank is among the TOP-3 by the number of MasterCards - over 78.3 thsd.
Under its corporate social responsibility program, VTB Bank (Armenia) has provided financial assistance to 60 children suffering from infantile cerebral palsy (ICP). These children are from vulnerable families and under care of "Hay Mayrer" ("Armenian Mothers") public organization. The Bank's press-office told ArmInfo, the Bank funds restorative water therapy for the children.
VTB Bank (Armenia) is among the leaders of banking system of Armenia paying about 889.5 mln AMD to the state budget and holding the 3rd place among commercial banks of Armenia and 26th place in the list of the largest taxpayers of the country, the press-service of the bank informed ArmInfo, referring to the data published by the State Revenue Committee of Armenia for Q1 2016.
In 2015, Anelik Bank increased the personal time deposits by 16% to 42 bln AMD, while the retail lending rose by 20% to 30 bln AMD. The press office of Anelik Bank has told ArmInfo that the total amount of time deposits grew by 7% to 45 bln AMD in 2015, while the total lending grew by 6% to 63 bln AMD. "In 2015, Anelik Bank ensured good indices in both deposit and loan portfolios. The rising share of personal deposits in the deposit portfolio is especially noteworthy
Under My Finance Month-2016 project, Areximbank- Gazprombank (GPB) Group staff members have visited the schools in Noravan and Lukashin, Armavir region, Armenia, and held lessons for upper-form pupils on the topic "Financial System of Armenia."
The Central Bank of Armenia has approved the merger agreement of ProCredit Bank and INECOBANK. The press office of INECOBANK told ArmInfo on April 28 that the Central Bank Board approved the merger agreement on April 26, 2016.
Within the framework of provision of installment loans, VTB Bank (Armenia) has improved the terms of the "Super-rate" service. After complete redemption of the loan, the Bank refunds 20% (versus the previous 10%) of the interest paid within at least 6 months to the conscientious borrowers.
Due to its geographical coverage VTB Group has the opportunity to present such products and services, which make cooperation between VTB Group clients from various countries more beneficial and convenient. VTB Group has developed a product for those clients who use UNIstream money transfer systems in Armenia, Ukraine, Georgia and Kazakhstan.
VTB Bank (Armenia) expressing deep condolences to the families of victims and being bound in honor to support them has made a decision to cancel loan commitments of those who have been killed on the frontline or gone missing.
ACBA-Credit Agricole Bank has made a decision to cancel loan commitments of those who have been killed on the frontline and members of their families.