VTB Bank pursues its program of relations with medium-sized business. In 2010, the Bank will focus on developing corporate business in Russia’s regions.
The Bank’s loan portfolio for the medium-sized business segment is expected to grow 30-35% this year. According to VTB evaluations, it will outpace the predicted growth of the banking market by more than 100%.
VTB is planning to grant a total of over RUB 90 billion in loans to regional medium-sized companies. Increasing limits of independent lending for the Bank’s regional divisions will encourage this initiative. VTB Management Board has already adopted the required decisions.According to Andrey Kiselev, Senior Vice President, “medium-sized companies that suffered most from the crisis, have an acute need for financial support. Therefore, our work in this field has a significant growth potential. The target segment for the bank is companies with a high level of financial stability, the ones that successfully survived the crisis. In order to provide favorable funding conditions for such customers, the Bank has considerably lowered its collateral requirements, increased lending periods, broadened the list of priority sectors, and reduced its loan rates. VTB has returned to the pre-crisis lending terms for medium-sized companies, which encourages dynamic business development in 2010.”