VTB Group has won the absolute majority of tenders to open and service accounts for capital repairs companies in many regions of Russia. VTB won 21 of the 26 tenders; Bank of Moscow won six tenders and the two banks shared victory in Krasnodar.
VTB Bank won tenders in Barnaul, Blagoveshchensk, Chelyabinsk, Irkutsk, Kemerovo, Khabarovsk, Krasnodar, Nalchik, Nizhny Novgorod, Orenburg, Perm, Petropavlovsk-Kamchatsky, Rostov-on-Don, St Petersburg, Saratov, Tula, Tyumen, Ulan-Ude, Ulyanovsk, Vladivostok, Vladikavkaz, Vladimir, Voronezh, Yakutsk, Yaroslavl and Yekaterinburg.
Under Russia’s Housing Code, regional operators were created in 2013 in every region of Russia to collect people’s contributions for capital repairs to their residential blocks. Under the law, regional operators must hold tenders to choose a bank.
Many large Russian state and commercial banks took part in the tenders, which were held across the country. VTB Group made the best offer, including free business banking, good market rates, and an opportunity to adjust its products and services to fit each company’s requirements to provide uninterrupted and efficient operations.
«Working with housing and utility sector companies is one of the bank’s social priorities. We have been doing this for years, and are glad that we can put our experience to good use in this new project, which is sure to succeed. Property owners can feel certain that their houses will be repaired, and will be able to monitor the process».
Deputy President and Chairman of VTB Bank Management Board