Zhoghovurd: VTB Bank Armenia does not fulfill obligations

In June 2013, Mika Cement Plant in Hrazdan city was transferred to the management of VTB Bank Armenia following the bankruptcy of businessman Mikhail Baghdasarov, Zhoghovurd reports. 

Despite the fact that the bank said on its official website that Mika Cement’s operation was resumed thanks to its financing, in reality this is not so. The point is that many of the plant’s workers have not received their salaries, the newspaper notes.