On July 26, Vneshtorgbank and the Moscow Central Borough Council held a conference at the Central House of Entrepreneurs devoted to "Challenges of investing business: Vneshtorgbank to finance Moscow entrepreneurs".
Addressing the conference, Vyatcheslav Vorobyev, Vneshtorgbank Vice President and Sergey Baidakov, Head of the Moscow Central Borough Council spoke about problems of raising funds for business and the need to enhance financing of mid-sized entrepreneurs in Moscow.
In particular, Vyatcheslav Vorobyev underlined that "it is in line with Vneshtorgbank`s Development Strategy to build up the system of customer servicing with annual proceeds from US$3million to US$100 million through the whole Bank, including its regional network as a springboard to enhancing the Bank`s business volumes and increasing finance channeled into the Russian economy. Vneshtorgbank has a considerable growth potential in this segment and ensures diversification of its customer base through attracting new corporate customers from the mid-sized businesses", - he said.
Within the framework of the conference, Vneshtorgbank presented a new model of servicing and selling its products to mid-sized businesses. To enhance its activities with this customer category, the Bank has developed and launched a vertically integrated system of transaction planning and monitoring. A special Department dealing with mid-sized customers within the Bank`s Corporate Module is in charge of supporting business planning and service sales to mid-sized customers in the Bank`s offices and outlets.
Enhancing its operations with mid-sized customers, Vneshtorgbank seeks to offer customer-tailored products, including foreign trade servicing, and a simplified lending procedure to this category of customers, which will ensure a better handling capacity alongside competitive quality of services. Citing Vyatcheslav Vorobyev, "Vneshtorgbank is set to considerably accelerate decision-making procedures in dealing with mid-sized customers, including lending, through delegating wider powers and authorities to sub-offices and branches".
Building on its regional network which comprises 55 branches, Vneshtorgbank plans to continue improving mid-size customer services and increasing loans to this customer category, which presently accounts for a considerable part of the Bank`s customer base of 85 thousand enterprises and makes up about 17% of Vneshtorgbank lending to Russian companies.