VTB Bank Azerbaijan focuses on middle class

Finance Materials 19 December 2019 14:32 (UTC +04:00)
VTB Bank Azerbaijan focuses on the middle class.
VTB Bank Azerbaijan focuses on middle class

BAKU, Azerbaijan, Dec. 19

By Eldar Janashvili – Trend:

VTB Bank Azerbaijan focuses on the middle class, Trend reports on Dec. 19 referring to Chairman of the Management Board of VTB Bank Azerbaijan Yevgeniy Kirin.

Kirin made the remark at a press-conference in Baku on Dec. 19 while speaking about the priority sectors of the bank's loan portfolio in small and medium-sized enterprises (SMEs).

The results of the year and the bank's strategy for 2019-2022 were discussed during the press-conference.

“VTB Bank Azerbaijan considers such sectors as processing, which, as opposed to agricultural products, does not have such high price quotes and does not depend on seasonal factors,” the chairman added.

Kirin also stressed the services sector as a priority, in particular, the hotel industry in Azerbaijan, emphasizing that tourism in the country is rapidly developing.

“Along with the development of tourism and an increase in tourist flow, the catering industry, which is in high demand and competitive in Azerbaijan, is also developing and expanding,” the chairman said. “We take this into account and, accordingly, are very enthusiastic about lending in the catering industry.”