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VTB Bank (Belarus) set to double key figures in 2011-2012

VTB Bank (Belarus) plans to virtually double all the key figures in 2011-2012, VTB Bank Chairman of the Board Vladimir Ivanov told media on 7 October.

“We plan steady growth in 2010. In 2011-2012 we plan to return the dynamics that was observed in 2008, that is we plan virtually double growth,” said Vladimir Ivanov.

Apart from that, the bank plans to become one of Belarus’ five largest banks in major figures. At present it is ranked at 7-8 position, yielding only to strategic banks.

Summing up the operation results for January-September 2009, Vladimir Ivanov said this year is rather positive for the bank. As of 1 October the bank’s regulatory capital increased by almost 19% (while the annual standard is set by the NBRB at 18%) to exceed Br290 billion. The increase is attributed to profits earned in 2008 and profits earned this year. “The regulatory capital is rather high now. This is why we plan to increase it in 2010 in line with requirements that the NBRB will send out but no more than that. Profitability is the key task for VTB Bank (Belarus) at present,” said Vladimir Ivanov. As of 1 October the return on equity totaled 11.1%, operational profitability — 13%. In January-September profits totaled Br25.5 billion.

Speaking about the credit policy, Vladimir Ivanov said that this year the credit portfolio has increased by 11% to be close to Br1 trillion. The share of retail credits in the bank assets shrank from 14.9% in early 2009 to 12.5% in late September. In 2010 the bank plans to keep the share of corporate loans at 80%, retail loans — 20%.

“Our lending to individuals plunged this year because the National Bank banned foreign currency loans. So we have lost mortgage loans. In 2010 we plan to promote car loans, mortgaging, and consumer lending. We expect retail loans to rise by 30%,” stressed the head of VTB Bank (Belarus).

So far this year the resource base has increased by 26% to exceed Br1.6 trillion. “We see a noticeable decline in the demand for loans, especially long-term ones, and see a strong interest in deposits. We focus on short-term deposits in order to more effectively manage the situation,” explained Vladimir Ivanov. All in all, as of 1 October individuals’ deposits reached Br218 billion, 52% up since the beginning of the year while the annual target is set at 31%.

In 2010 the bank will continue expanding the line of available services: insurance products will emerge and card business opportunities will be extended. The bank will continue dealing with trade and project funding. Petrochemical companies will stay its main clients. The bank plans to open new offices in provinces — in Orsha, Bobruisk, Vitebsk, and Minsk.

Previously named as Slavneftebank, VTB Bank (Belarus) was registered on 7 October 1996. At present it services over 5,000 economic operators.

VTB Bank (Belarus) is a universal bank primarily focusing on servicing corporate clients. At the end of H1 2009 it accounted for 2.2% of the country’s banking industry assets, 2.1% of corporate loans and 1.3% of retail deposits. VTB Bank is the largest shareholder in VTB Bank (Belarus) — 69.7%.

In August the rating agency Fitch Ratings confirmed its B long-term default issuer rating with a negative forecast for VTB Bank (Belarus).


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