VTB Bank Armenia: banks ready to cut margin, but won’t take high risksMay 18, 2011 - 14:42 AMT PanARMENIAN.Net - Director General, Chairman of the Board of Directors of VTB Bank Armenia Valeriy Ovsyannikov said that optimal interest rates are applied for a corporate business in Armenia, while those for small and medium enterprises are too high. Ovsyannikov noted that the decrease in bank interest rates was discussed during a meeting with Armenian President Serzh Sargsyan. According to him, banks are ready to lend the real sector of economy, while enterprises are willing to take loans, but the efforts of the government and Central Bank of Armenia aimed at creating favorable conditions for industrial enterprises are still insufficient. Besides, Ovsyannikov noted that high interest rates for small and medium enterprises are reasoned by difficulties faced by banks in estimating risks. “Banks are ready to cut the margin, but they will not take high risks,” he concluded. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | International cybercrime ringleaders arrested in Armenia, Ukraine Europol, Europe's crime agency, has arrested four ringleaders of several cybercrime networks that used botnets. Armenia skips CSTO Defense Ministers meeting A meeting of the Council of Defense Ministers of the Collective Security Treaty Organization countries began in Almaty. Armenian, Iranian foreigh policy chief talk over the phone The Foreign Minister of Armenia once again expressed condolences to his counterpart on the death of the President of Iran. Armenia, U.S. customs authorities to boost assistance with new deal The government has approved an agreement with the U.S. government on mutual assistance between the customs authorities. |