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)