Report: Russia’s VTB can raise corp loan portfolio 8%/yr 2017–2019

MOSCOW, Dec 14 (PRIME) -- Russia’s second biggest lender VTB plans to raise the corporate loan portfolio by 8% annually in 2017–2019, CEO Andrei Kostin told channel Rossiya 24 in an interview broadcast on Wednesday.

Kostin said in November that VTB hired consulting firm McKinsey to help it prepare a development strategy for 2017–2019.

“Firstly, we expect a certain positive economic growth in Russia. We have our own forecast, it is moderately optimistic. In this context, we foresee that we will be able to ensure a 10% loan portfolio rise on average. In the retail segment (the growth will be) 12%, in the corporate portfolio maybe 8%. Nevertheless, our assets will be rising, our portfolio will be rising, it will amount to about 13 trillion rubles by 2019,” Kostin said.

He also said that VTB plans to have an at least 200 billion ruble net profit and an at least 14% return on capital in 2019.

(61.0690 rubles – U.S. $1)

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