Ardshinbank announces acquisition of part of VTB-Armenia Bank's retail consumer loan portfolio

YEREVAN, March 30. /ARKA/. Ardshinbank CJSC said today that an agreement has been reached with VTB-Armenia Bank CJSC on the transfer of part of the retail portfolio of consumer loans. From March 28, Ardshinbank has been servicing part of VTB-Armenia individual borrowers.

Work on transfer of VTB-Armenia Bank’s retail portfolio of consumer loans to Ardshinbank has already begun. Relevant individual messages with the information on the new credit code of their loans and details of payment instructions for servicing the loans in Ardshinbank will be sent to the new customers.

It is important to note that Ardshinbank will provide services to individual clients of VTB-Armenia Bank on the same terms and conditions as before. The current terms of the agreements, including interest rate, tenor and other important conditions of loans will remain unchanged.

As a result of the agreement reached, banking services will be provided to more than 56,000 clients, complying with all requirements of local and international rules. The immediate actions of Ardshinbank will be focused on customer’s satisfaction and full-fledged, uninterrupted servicing across all the service channels in the scope of the commitment of the bank as trusted partner to its clients.

This transaction is in line with the strategy of Ardshinbank and is aimed at developing the retail business of the Bank.

Ardshinbank preserves full compliance of AML, KYC standards set by international resolutions, Armenian legislation, Central Bank of Armenia, its international partners, and in line with its internal policies and standards. The bank works diligently welcoming new customers in the best possible way with due care and service.

Ardshinbank’s operations are regulated by the Central Bank of Armenia. -0-