VTB Bank (Kazakhstan) announces market entry of lending in car showrooms

01.07.2014 VTB Bank (Kazakhstan) strengthens its positions in auto lending. Since the second half of 2014, program of auto lending is launched directly in car showrooms of the largest dealers and distributors of the Republic of Kazakhstan.

Dmitry Yakovlev, Deputy Chairman of the Board of Subsidiary JSC VTB Bank (Kazakhstan): «POS-lending in car showrooms is traditionally popular among customers. Association of several players, in this case, the bank and car showroom, allows motorists to get decision on loan issuance as soon as possible and with a minimum package of documents».

Experts of the Bank note that today the most popular cars among customers of the Bank are the cars of foreign production in the price segment up to 4 million tenge, average amount of auto loan amounts to 2,5 million tenge.

As it was previously reported, VTB Bank (Kazakhstan) has launched new auto lending program – «Auto Light» in June 2014. The main advantages of the product: initial payment – from 0%, interest rate – from 18%, maximum lending term - 7 years.

For reference:
SO JCS VTB Bank (Kazakhstan) - is 100% subsidiary Bank of the largest Russian OJSC VTB Bank. License of the FSA of the RK No. 1.1.259 dated 22.05.2009.
The Bank was assigned international rating at the «BB+» / «Negative» forecast level from Standard & Poor’s Agency. The branch network of VTB Bank (Kazakhstan) covers 17 cities and amounts to 24 points of sales 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%).