Several banks in Azerbaijan restrict transactions with VTB cards

Several banks operating in Azerbaijan have set limits on transactions with cards of VTB Bank (Azerbaijan), a subsidiary of Russia's VTB Bank, at their ATMs and POS terminals, the bank told Report.

VTB Bank (Azerbaijan) did not restrict its activities in the territory of the Republic of Azerbaijan: "If customers have difficulties with non-cash payments and cash withdrawals, we recommend contacting acquiring banks."

VTB Bank (Azerbaijan) says it has not stopped lending to customers even for a single day: "At present, a 300 to 20,000 manat cash loan can be taken from the bank for 6 to 60 months. The base interest rate on a loan is 16% per annum. You can apply for a loan only with an identity card without bringing a guarantor. Also, there is no need for documents confirming the borrower's income and work. Under the refinancing program, you can combine several loans from other banks to repay your debt, as well as receive additional funds. We would also like to note that each customer's application is processed automatically by the credit conveyor."

VTB Bank (Azerbaijan) was established in 2009 on the basis of AF Bank OJSC, which had been operating since 2003. Its authorized capital is 315.8 million manats. Currently, 99.999995% of the bank's shares belong to Bank VTB Russia OJSC and 0.000005% to Adigozal Aghayev (former general director of Ata Holding LLC).