On December 11, VTB Bank (Armenia) deputy chairman of Eurasian Development Bank (EDB) Dmitry Zhurba and General Director-Chairman of Directorate of VTB Bank (Armenia) Yury Gusev signed a credit agreement at the amount of USD 15 million as part of lending to small and medium-sized enterprise (SMEs).

Mr. Gusev noted lending to SMEs a priority for VTB Bank (Armenia).

“The agreement provides the bank and clients with good business opportunities. We will focus on this very sector in 2013,” he said, adding that the funds will be allocated for new business loans and creation of new jobs,” he said.

Mr. Gusev further noted that VTB Bank (Armenia) loan portfolio totals AMD 28 bln, with 30 % growth reported as compared to the last year.