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 | Mirzoyan says meeting with Bayramov was “constructive” At the moment, Ararat Mirzoyan said, there is no basis for additional comments. OSCE vows support for Armenia “in all three directions of security” Achieving stable peace between Armenia and Azerbaijan remains a priority of the OSCE, said Ian Borg. 151 detained as civil disobedience campaigns continue in Yerevan Citizens have been blocking streets in the Armenian capital, demanding Nikol Pashinyan’s resignation. France welcomes Armenia-Azerbaijan meeting in Almaty France has welcomed the new round of negotiations between the foreign ministers of Armenia and Azerbaijan. |