VTB Bank's Assets Increased by 27 Percent in 2011

 

“The credit portfolio increased by 31 percent and amounted to GEL 304 million ” said Archil Kontselidze, General Director of VTB Bank. “Personal loans increased by 47 percent, including mortgage loans by 241 percent. Small business loans grew by 37 percent, and agribusiness – by 111 percent, while corporate business loans grew by 26 percent.” “A change in strategy had a very positive effect on the Bank’s development,” explained Kontselidze. “Whereas our main focus was on corporate development before, now we are actively expanding in retail banking and small and medium businesses too. We started expanding the network in this areas and added several important products including mortgages, auto loans, and small and medium business loans. All of these resulted in significant financial growth. The second reason for such growth was bringing in a large amount of foreign finances at low interest rates. Security is another factor determining our fast growth. International ratings agency Fitch ratings has given us a BB mark, which is the highest rating in Georgia. Quite a large amount of money is coming in because of the security we represent. We are really very proud of this.” A. We had important growth in retail sector last year. Our leading new products were mortgage and auto loans. Mortgage loans were in big demand. We have introduces a very versatile and flexible mortgage products range, offering one of the most competitive rates. I would like to point out two types of mortgage loans, introduce by VTB Bank, which are unique for the Georgian market. Our Universal Mortgage bears no obligation to use proceeds of the loan to buy or repair property. Money can be used for any purpose. This product is very convenient for our clients and therefore sold quite well during 2011. Our Express Mortgage is a loan that can get approved in a day. Proof of income isn’t necessary, and customer can apply for it right at the real estate dealer or developer.

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VTB Bank's Assets Increased by 27 Percent in 2011
VTB Bank's Assets Increased by 27 Percent in 2011

VTB has two types of auto loans. Our customers have the possibility to get an auto loan from us in twenty minutes at certain car dealerships and collect their new car in as little as an hour. As well as being so conveniently fast, our loans are



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