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VTB makes a solid start in the French savings market

 
22 March 2011

Within the international business development program of VTB’s European subholding, VTB Bank (France) has been successful in offering individuals in France an innovative product for VTB Group,–electronic savings deposit accounts (VTB Direct). This project is based on internet servicing of customers, which satisfies the growing demand for online accounts from French citizens.

The new project was launched in mid-December 2010, allowing individuals to use this service on the best terms available in France. In less than three months, the bank managed to raise EUR 59 million. The average deposit amount is EUR 40,000, with the average term of 17 months. Over 1,300 accounts have been opened under the program. The product is most popular in Paris and its suburbs, accounting for 45% of the total number of accounts.

For reference:

VTB Bank (France) was founded on 21 January 1921 in Paris to service foreign trade operations between the USSR and France. The bank has been a member of VTB Group since 2005.

VTB Bank (France) closely cooperates with large European, Russian and CIS-based companies engaged in commerce and production, as well as with the leading French and other West European banks. The bank holds the Banque de France general license and offers a variety of services related to the following banking operations: structural financing, export & import financing, documentary operations, loans guaranteed by state insurance agencies, and trade finance. 

VTB makes a solid start in the French savings market



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