VTB Group Strategy for 2017−2019
VTB Group’s 2017−2019 strategy was approved by the Supervisory Council in December 2016, and set out the following key goals for the period:
- To increase the Group’s profit to more than RUB 200 billion and promote its leading position in the Russian banking market;
- Integrate and optimise the Group’s structure by building a single universal bank;
- Conduct a large-scale technology modernisation.
Optimising the Group’s structure and cost of funding is one goal in the 2016−2019 strategy. As part of realising the goal, it is essential that VTB clients’ funds grow faster, dependence on the Bank of Russia’s borrowed funds decrease, and the share of foreign exchange resources shrink. The Group is also aiming to significantly increase the corporate client portfolio.
As part of its continued development, VTB Group aims to further increase the volume of corporate lending operations, retaining its leading position in the market, whilst continuing to strengthen its position in the consumer lending market.
The merger of VTB 24 and VTB Bank will make a significant contribution to enhancing the Group’s performance. The completion of the merger will improve the management and the coordination of business lines, and will create a single team formed of the best representatives of both banks.
Digital transformation of the Group’s business and processes will provide additional sources of revenue, bringing the remote customer service system to a new level, and improving internal efficiency and productivity.