INTERVIEW: VTB can raise retail loans 17%, deposits 24% in 2018 - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

INTERVIEW: VTB can raise retail loans 17%, deposits 24% in 2018

MOSCOW, May 16 (PRIME) -- RussiaТs second largest lender VTB plans to boost retail crediting by 17% to 1.1 trillion rubles and retail deposits by 24% to 735 billion rubles, Senior Vice President Andrei Osipov told PRIME in an interview released on Wednesday.

УWe have aggressive development plans in absolutely all areas this year. The most aggressive plan for deposits: we must raise the portfolio of funds borrowed from households by 735 billion rubles, or by 24%. This is almost three times faster than the market,Ф Osipov said.

The retail lending market is to rise 11Ц12% and the mortgage market by 14%. Deposits can grow 8.0Ц8.5%, Osipov said.

VTB expects a decrease of loan and deposit rates across the banking sector by about 0.5Ц0.7 percentage points by the yearТs end, he said.

УDeposit rates will be changing along with credit rates. We expect an about 0.5Ц0.7 percentage rate fall by the yearТs end,Ф Osipov said.

The official also said that there is no excessive debt burden on Russians as the share of income spent on loan repayment is below 17%, which is significantly lower than a maximum reached in 2013Ц2014.

But he added that he sees lending of small amounts at high interest rates as a potential trouble in the retail lending sector.

(61.9164 rubles Ц U.S. $1)

End

16.05.2018 12:20
 
 
Share |
To report an error select text and press Ctrl+Enter
 
 
Central Bank Official Rate
1W 1M 1Y
USD
EUR 73.3321 +0.1552 22 may
USD 62.5327 +0.5919 22 may
Stock Market Indices
1D 1W 1M 1Y
MICEX
rtsi 1191.86 +1.60 18:50 21 may
micex 2332.63 +0.24 18:50 21 may
Stock Quotes in RUR
1D 1W 1M 1Y
GAZP
gazp 146.76 +0.76 18:48 21 may
lkoh 4398.50 -1.16 18:46 21 may
rosn 386.90 -0.03 18:47 21 may
sber 226.21 +1.80 18:49 21 may
MICEX Ruble Trading
1D 1W 1M 1Y
USDTD
EURTD 73.2275 +0.0050 14:59 21 may
USDTD 61.9800 -0.4500 17:44 21 may