Thursday, September 27 2012 20:23

VTB 24 Group to continue aggressively increasing retail lending in all subsidiaries


ArmInfo. VTB 24 Group will continue aggressively increasing retail lending in all its subsidiaries. In 2013 the share of the subsidiaries' profit will make up 10% of the total net profit of VTB Group, Mikhail Zadornov, President-Chairman of Board of VTB 24, said during a video bridge with the heads of VTB Group's subsidiaries.

He pointed out that in 2013 VTB Group will replace the present model of retail business management with matrix management. Under the new management system, the bonuses of VTB Group subsidiaries' managers will mostly depend on the financial result in the retail business sphere. The new matrix management system also implies creation of a single business plan. The implementation of the business plan will be strictly controlled.

Zadornov said that due to the group's retail model its subsidiaries in Armenia, Ukraine and Kazakhstan are among the leaders on local markets.

In Armenia alone retail lending has so far grown by 3 times, while individual deposit portfolio by 4 times.

The Ukrainian subsidiary is among Ukraine's top ten banks in the field of individual lending. In the last year the bank has increased its SME lending portfolio by 46% to 20bln RUR, while the deposit portfolio grew by 47% to 25.5bln RUR.

In Jan-June 2012 the retail loan portfolio of the Kazakh subsidiary grew by 3.6bln RUR, the deposit portfolio by 1.9bln RUR.

In Private Banking the bank acts in eight Russian cities, in Georgia, Armenia, Ukraine and Cyprus and had as many as 3,000 VIP customers as of Sept 1 2012, with the Private Banking deposit portfolio exceeding 200bln RUR.

According to Zadornov, one of the group's advantages is no charge or ATM transactions all over the CIS.
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