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VTB actively finances Russian economy

 
31 October 2008

VTB Bank remains a leading lender for the Russian economy. VTB's investment into non-financial sector has increased almost 25% since 1 July 2008.

During the last week of October, VTB channelled more than RUR 10.5 bln. to transport and machine-building, RUR 33 bln. to ferrous and non-ferrous metallurgy, over RUR 24 bln. to other industries, and about RUR 1.3 bln. to the RF constituent entities and regional municipalities.

Moreover, VTB collective bodies have already approved financing through granting loans and credit lines totaling RUR 24 bln., with more than RUR 10 bln. provided to executive bodies of the RF constituent entities, RUR 6.3 bln. - to metallurgical companies, about RUR 2.5 bln. - to atomic industry, RUR 2.6 bln. - to construction companies, RUR 1.2 bln. - to military-industrial complex, and over RUR 1.1 bln. - to fuel and energy sector. Besides, VTB collective bodies are considering applications from the leading retailers for more than RUR 18 bln.

The average annual interest rates on loans are 14-15.5% depending on the collateral and the customer's risk level.

For reference:

VTB Group is a leading Russian financial group with a strong history tradition in Russia and the CIS, and a presence in 17 countries around the world. The Russian Government is VTB's majority shareholder, with a 77.5% holding. The remaining 22.5% of the shares are traded on the RTS and MICEX in Russia, and VTB's global depositary receipts are traded on the London Stock Exchange. VTB offers a wide range of services in corporate, retail and investment banking in Russia, some other CIS states and a number of countries in Western Europe, Asia and Africa. As of 1 July 2008, VTB was the second largest financial group in Russia by assets (USD 108.8.2 bln.) and by customer accounts (USD 44.6 bln.). VTB Group is among the top three national retail banks with a network of 1001 outlets in Russia and the CIS. In 2008, VTB launched its Investment Banking business, which operates from Moscow, London and Singapore offices.


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