VTB 24 looks to up credit market share to 13% by end-2016
MOSCOW. June 19 (Interfax) - VTB 24 intends to increase its share of the lending market to 13.2% from 11.2% by the end of 2016, the head of the VTB retail subsidiary, Mikhail Zadornov, said during a Tuesday press conference.
The VTB group's overall retail business market share will be 18.5%, Zadornov said as he presented the group's new retail strategy for the period until 2016.
Under this new strategy, deposits with VTB 24 by private individuals will grow 2.5-fold to 2.5 trillion rubles by end-2016 from 983 billion rubles at end-2012. All in all, these deposits with VTB's retail businesses should reach 3.05 trillion rubles by the last year the strategy is in effect.
VTB 24 is looking to capture a 9.9% share of the retail deposit market by end-2016 (6.9% at end-2012). The group's overall retail deposit market share will be 12% by the end of 2016.
The VTB group's retail business is represented by VTB 24, Leto Bank, and retail subdivisions of Bank of Moscow and TransCreditBank . The latter is to be merged with VTB 24 in November.