2 Feb 2012 15:18

VTB 24 plans to up share of small business loans 50%

MOSCOW. Feb 2 (Interfax) - VTB 24 Bank plans to increase the share of loans to small businesses in its loan portfolio by 50% from 10% to 15%, the bank said in a press release.

The bank expects to raise the volume of loans given to small companies 130%.

VTB 24 plans in 2012 to expand its product line for small businesses and is launching two new types of loan: the Business-Express (loans of up to 4 million rubles on a scoring model) and the Business-Standard (loans of 4 to 15 million rubles with a simplified application review procedure).

VTB 24 was ranked number 6 by asset value in the Interfax-100 review of Russia's banks in 2011. The share of corporate loans in the bank's loan portfolio is 20.2%.