VTB bank (Belarus) is ready to become a leader in the banking services market of Belarus

“The presence of Russian bank VTB in Belarus will do the both our states good and give a tangible affordability”, - Vladimir Ivanov, the president of the VTB Bank close corporation in Belarus, is convinced. His words are particularly topical in the situation when today’s Belarusian market of banking services is far from saturation. “We are only entering the era of severe competition between banks for a consumer. And in this respect a considerable experience of Russian VTB is another advantage”, - pointed out Vladimir Ivanov.

“The presence of Russian bank VTB in Belarus will do the both our states good and give a tangible affordability”, - Vladimir Ivanov, the president of the VTB Bank close corporation in Belarus, is convinced. His words are particularly topical in the situation when today’s Belarusian market of banking services is far from saturation. “We are only entering the era of severe competition between banks for a consumer. And in this respect a considerable experience of Russian VTB is another advantage”, - pointed out Vladimir Ivanov.

It should be pointed out that Russian offspring has rather ambitious plans: to become one of the 5 leaders in the bank sphere of Belarus by 2010. By this time VTB bank plans to get up to 10% of market of services rendered to legal persons and up to 5% of market of services rendered to people. Meanwhile the volume of corporate credits for 2007-2010 must increase fifteen fold up to 15 billions of dollars and retail credits must increase thirty fourfold up to 310 million of dollars. According to the plan by 2011 bank assets will account for 1, 5 – 1, 8 billion of dollars and capitalization of the bank will increase up to 80 million of dollars.

“Accumulation of crediting volumes in perspective will be a priority direction for us”, - said Vladimir Ivanov. The VTB positions are traditionally strong in the petrochemical industry service activities in Belarus. A conspicuous example is the significant funds being given to Belneftehim concern. Thus only at the given period practically 300 million dollars projects are being worked out. Funds will be channeled at the crediting of Mosyr NPZ, Naftan public corporation, GrodnoAzot public corporation and other Beltehim companies.

At the cost of financial aid of the mother-bank VTB (Belarus) has increased authorized and equity capital more than twofold and in March of 2008 attracted a subordinated credit from VTB Bank public corporation (Russia) at the rate of 30 million dollars. It gives an opportunity to finance big projects. For example by the end of the year one borrower will be able to obtain a credit at the rate of 30 million dollars (only a year ago this sum equaled 3, 5 million of dollars).

Today by no means all Belarusian banks are able to grant their customers such credits. For VTB (Belarus) investment crediting is gradually becoming a priority direction. Now plans of the bank include Belarusian power engineering financing. “This sector is clear and interesting for us”, - summed up Vladimir Ivanov.