Exec: VTB, 2 other state banks win some market share from Sberbank

MOSCOW, Oct 18 (PRIME) -- Russia’s second largest bank VTB and two other large state banks – Gazprombank and Russian Agricultural Bank – increased their market share in January–September, while the market share of top bank Sberbank shrank in the period, Mikhail Zadornov, CEO of VTB’s retail arm VTB 24, said on Wednesday in a news conference.

“VTB Group has increased its market share by more than 1% in 2017, and Gazprombank and Russian Agricultural Bank also raised their share by about 1% in the nine months. Additional incomes of citizens went to these banks over the past nine months,” he said.

But Sberbank reduced its market share unlike in the two previous years.

“This is an objective fact – Sberbank has enough liquidity and there is a general reduction process , both of its loan portfolio and the raised funds portfolio,” he said.“We (VTB 24) had an active growth (of funds of individuals deposited with the bank) in the third quarter, the amount grew to 2.3 trillion rubles.”

(57.3392 rubles – U.S. $1)

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