Corrected - VTB loan portfolio increased by more than 100 bln rubles in Q3
(Headline, first and second paragraphs revised)
MOSCOW. Sept 29 (Interfax) - VTB increased its loan portfolio by more than 100 billion rubles in the third quarter of 2009, President Andrei Kostin told journalists on the sidelines of the Russia Calling investment forum organized by VTB Capital.
"Our loan portfolio increased by more than 100 billion rubles in the third quarter. We are even lending to venture projects," he said.
Asked to comment on the possibility of a double-dip crisis, Kostin said: "We have passed the low point, but there are challenges ahead. The recovery process will be difficult and much work is required to return to the pre-crisis level."
The pace of growth of overdue loans in the banking sector has declined steeply in recent months. "The problem debt, which had to be identified, has now appeared. We don't see new problem loans appearing," he said.
The banking sector will do better in the second half of the year than it did in the first, he said.