Bank VTB (Armenia) offering 2 new time deposits on new year’s eve
YEREVAN, December 18. /ARKA/. On New Year’s Eve, Bank VTB (Armenia) is introducing two new time deposits for the population – VTB–New Year and VTB-Ruble.
Needs and suggestions of depositors were maximally considered in developing the new deposit terms, reports the Press Service of Bank VTB (Armenia) closed joint stock company.
According to the report, VTB-New Year deposit is accepted from citizens (residents and non-residents) in Armenian Drams and U.S. Dollars (minimum initial deposit is 9,000Drams for Dram deposits and $90 for USD deposits) by February 29 2009, for a period from 90 to 270 days. Bearing in mind the upcoming holiday expenditures, interest can be paid in the beginning of the period (9% p.a.) or in the end of the period (9.5% p.a.) as requested by depositor. No limits for replenishment and no taking are envisaged for the VTB-New Year deposit. Interest on cumulative part of the deposit will be paid at the end of the period.
Time deposit VTB-Ruble is accepted in Russian Rubles only for a period from 90 days to a year, with minimum initial deposit of 30,000 Rubles that can be replenished and at an interest rate of up to 7.5% p.a. Interest is paid to depositors every month or at the end of the agreement period.
Upon request VTB-VISA payment card can be issued to depositors under the following conditions: free issue, free servicing throughout the card validity period, free encashment of interest paid to the card account and no requirement on card account balance, says the report.
VTB-New Year and VTB-Ruble deposits are insured in the order and for the amount set by the RA law on guarantee and compensation for bank deposits of individuals.
Bank VTB (Armenia) (Armsavingsbank before June 20 2006) joined the VTB Group in April 2004. Currently the bank VTB is the full owner of Bank VTB (Armenia) closed joint stock company.
The share capital of the bank was 13.9bln Drams, owned capital 23.2bln Drams as of 1 November, the bank’s assets 98bln Drams, credit portfolio 74.7bln Drams and total liabilities 74.8bln Drams. Net profit of the bank totaled over 2.4bln Drams in January-September 2008.
According to the information of ARKA Agency, as of the end of Q3 Bank VTB (Armenia) was the second among Armenian banks in terms of total capital, credit investments; it ranked the third in terms of share capital. The bank had the fourth largest assets, liabilities and profit gained in January-September 2008. ($1=308.34 Drams). N.V. –0—
