VTB says central bank not to cut key rate in 2021

MOSCOW, Feb 3 (PRIME) -- Russia's second biggest lender VTB does not expect the central bank to cut the key rate in 2021, Deputy CEO Anatoly Pechatnikov said at a press conference on Wednesday.

"There are no expectations so far that the key rate will be reduced further this year… We have even made our business plan with expectation that the key rate will not change, this is why we based our interest and tariff policy on the current level of 4.25%," Pechatnikov said.

He also said that VTB expects the retail lending market to increase by 10% in 2021 and that VTB plans to rise above the market.

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