Armenia Microlending Programme—Microlending Consulting for VTB Bank

The technical assistance provided by BFC included:

  • development of a multi-stage recruitment and training process
  • implementation of a qualitatively and quantitatively stimulating bonus system
  • introduction of new profitable loan products (approved by VTB)
  • implementation of a national marketing plan using leaflets, radio and TV ads, booklets, posters, internet banners, and car air fresheners
  • development of an efficient SME lending department
  • improvement of credit risk control
  • introduction of a new credit committee structure designed to minimize fraud
  • implementation of an effective documentation processing system

BFC’s project enabled the bank to increase its lending efficiency and portfolio quality while minimizing operational costs and credit risks.