VTB Bank (Armenia) and the Armenian subsidiary of Rosgosstrakh have launched a co-branded, 'exclusive' product consisting in a loan granted by the bank specifically for the purchase of mandatory motor car and  CASCO insurance policies provided by Rosgosstrakh Armenia, the bank's press service said in a press release.

The insurance policies may be purchased both at Rosgosstrakh Armenia's offices and at the branches of VTB Bank (Armenia). "The loan processing procedure will take no more than 20 minutes. The applicants will have to have with them only an identity document, social card and the technical passport of the vehicle. The loan is granted for a period of 1 year," the press release said.

The initiative aims to reduce customer's financial burden.

VTB Bank was entirely acquired by Russian VTB Group in 2004. Rosgosstrakh Armenia was established in 2008 and runs 50 offices in Armenia.