Azerbaijan, Baku, Dec. 12 / Trend J. Nasibova /
VTB Bank (Azerbaijan) has completely revised its strategy this year. Lending small business loans and retail customers were chosen as the two main areas of its activity during a five-year term, head of Retail Business Development Department, a member of VTB Bank board (Azerbaijan) Ilnur Salakhov told Trend today.
According to the bank's calculations for 2016, VTB Bank's share in the Azerbaijani market of retail banking services will hit about four per cent in terms of small business lending and 2.5 per cent in retail lending.
"The bank was greatly changed within the new strategy," he said. "New products are being introduced and business processes are being improved."
According to plans for next year, the bank's portfolio will consist of small business clients (35-40 per cent).
"Bank VTB (Azerbaijan) also has serious retail lending plans," he said. "By 2016, we plan to join the top 10 in terms of the portfolio volume and the top three banks on lending volume growth. Cash loans were launched through the corporate channel (company and organisation) to increase the lending volumes to lend the employees of these companies at lower rates than ordinary customers."
Moreover, the bank has introduced new products and services for the past six months. They became quite popular in a short period. "The mortgage consumer loan is up to 50,000 manat," he said.
VTB Bank (Azerbaijan), operating in the country since 2009 (banking licence No 162 issued by the Azerbaijani Central Bank on March 11, 2009), is a subsidiary of VTB Bank. VTB ranks second in all major indices on the Russian banking market.
The bank has the highest rating made by such international rating agencies Moody's Investors Service, Standard & Poor` s and Fitch among Russian banks.