VTB Bank (Kazakhstan) JSC SO Small Business Loan Portfolio has increased by 97% in I quarter, 2014
Following the results of the 1st quarter, 2014, VTB Bank (Kazakhstan) Small Business Loan Portfolio has increased by 79% having
exceeded KZT 21,8 billion. According to the Bank’s specialists, this index growth is primarily connected with flexible conditions of loan products and short terms of credit requests consideration.
Since 2011 VTB Bank (Kazakhstan) has been participating in the state programs of small business financing. Within the frameworks of the state programs the Bank finances the companies which carry out their activities in priority economy sectors: transport, production, healthcare, social services and etc.
Dmitriy Yakovlev, acting Deputy of the Chairman of the Management Board, Member of the Management Board, VTB Bank (Kazakhstan) JSC SO, noted, “Following the results of the 1st quarter, 2014, the Bank has financed 64 projects to the total amount of KZT 2 billion within the frameworks of “Business Road Map - 2020” state program. 26 companies were financed to the amount of KZT 800 million within implementation of “Damu regions III” state program directed towards development of business activities with due consideration of regional priorities.”
The Bank takes part in the Women’s Business Microlending Program of Damu Entrepreneurship Development Fund – at present 12 clients have been financed to the amount of KZT 140 million. This Program is particular by financing women-entrepreneurs or legal entities managed by a woman and with number of employees- women at least 30% of the total number of staff.
For the moment above 720 organizations are the clients of VTB Bank (Kazakhstan) related to the small business segment. “Small Loan” product was the most popular among the representatives of small business for the reporting period according to the Bank’s managers; approximately 55% of the Bank’s clients used it.
For reference:
SO JCS VTB Bank (Kazakhstan) - is 100% subsidiary Bank of the largest Russian VTB Bank OJSC. License of the FSA of the RK No. 1.1.259 dated 22.05.2009.
The Bank was assigned international rating at the «BBB-» / «Stable» forecast level from Standard & Poor’s Agency that indicates its positive and stable financial condition. VTB Bank and its subsidiaries form international financial group which conducts its activities in Russian and foreign markets. VTB Group consists of more than 30 banks and financial companies in 20 countries of the CIS, Europe, Asia and Africa. The major shareholder of VTB – is the Government of the Russian Federation (60,9%). VTB Group provides full range of financial services, including bank servicing of private and corporate customers, investment and banking and additional financial services including leasing, factoring, insurance and pension coverage.