VTB offers Armenian companies to borrow in rubles

VTB offers Armenian companies to borrow in rubles

VTB Bank plans to provide loans to Armenian producers in rubles, the Chairman of VTB Bank Management Board, Mikhail Oseyevsky, said.

"We see that the national currencies are weakening, and this is typical to all developing markets. The United States has a strong influence in expectation of the discount rate growth; dollars and their instruments are becoming quite attractive, and we expect further depreciation of national currencies and it also requires us to make the relevant adjustments," Oseyevsky said

"In Russia we issue loans at 14-15%, which is more or less convenient. So we hope the same practice will be formed in Armenia as well," Mikhail Oseyevsky said.

VTB has already discussed new approaches to cooperation with the Central Bank of Armenia and the Armenian Government, Arka reports.

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