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VTB enhances branches’ authorities to assume credit risks since April 2010

14 April 2010

According to a decision approved by VTB Management Board, VTB branches were authorized to assume credit risks to replenish working capital, under the collateral of property with tranches up to 2 years (amid the crisis the tranche period was limited up to 1 year). For customers with good financial standing the limit was increased 1.5-2 times (up to RUB 600 mln per borrower). Reduced industry risks resulted in the branches’ authorities to lend a wider range of industries.

Under the new strategy of medium-sized business development, more branches were granted with the authority to provide three-year loans for financing capital expenditures. Such branches are located in 40 cities of VTB presence.

Andrey Kiselev, Senior Vice President, Head of the Third Corporate Segment, said: “These initiatives are aimed at supporting and developing enterprises of the real economy in the regions of VTB Bank presence. Now, the credit decisions can be made locally within a shorter period of time. On the one hand, the enhanced authorities will meet customers’ demands, and on the other hand, they will facilitate solving the Bank’s business tasks for 2010”.

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