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VTB Bank streamlines its lending procedure

6 June 2011

Acting under VTB Group development strategy for the years 2010-2013, JSC VTB Bank has introduced a new lending procedure starting from Q2 of the current year, striving to enhance competitive edge of VTB credit offers and to increase the Bank’s efficiency.

The new procedure is aimed at fastening decision-making related to credit risk limits and credit risk-bearing transactions while ensuring the highest standards applied at VTB Bank to assess the risk taken.

The reform of the lending procedure has incorporated the following innovations:

  • Standard loan approval period for mid-sized businesses has been reduced 30-40%, for large customers – 50-70%;
  • There has been reallocations of functions between some divisions participating in the lending process;
  • The process of decision drafting and making by the Head Office’s Authorized Bodies upon application of the branches has been strictly regulated;
  • Procedure has been shortened for drafting and considering issues related to insignificant changes in terms and conditions of current limits/transactions;
  • Timely performance is included in the incentive system of the units involved;
  • A single Credit Department has been established in charge of credit transaction analysis and structuring at the Head Office, as well as of streamlining credit procedures at the Bank’s branches.

Alexander Lapko, VTB Bank Senior Vice President, emphasized that “the innovations introduced will offer VTB a wide access to high-margin customer segments, and hence, to additional sources of revenue for the Bank. The new lending procedure is the first step of the Bank’s lending reform designed to upgrade many methodological aspects of VTB credit policy.”


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