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VTB Group increases support to key sectors of the Russian economy

 
10 February 2009

In January 2009, Russia based banks of VTB Group (VTB,l VTB24, VTB NW) extended credit to support the economy providing over RUB 249 billion in loans to corporate and retail customers.

The largest funding was channelled to construction and building materials companies (RUB 15 billion), transport and infrastructure companies (RUB 8 billion), trading companies (RUB 7 billion), and military-industrial and space sector (over RUB 2.7 billion). The Bank also provided financial support to federal and municipal authorities, which received more than RUB 1.1 billion. Metal and mining companies and agricultural businesses were granted over RUB 1.8 billion and RUB 1.3 billion, respectively. Small and medium-sized businesses were granted a total of over RUB 9 billion in new loans.

In January 2009, over RUB 5 billion were raised in retail loans, with mortgage loans exceeding RUB 1 billion.


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