Since the beginning of 2014, VTB Bank (Kazakhstan) has sent morethan 19,6 billion tenge small businesses development
Following the results of 10 months of 2014, VTB Bank (Kazakhstan) has sent more than 19,6 billion tenge to small businesseslending. The volume of loan portfolio of small businesseshas amounted to 25,3 billion tenge, having exceeded the same indicator of 2013 by 40%.
Dmitry Yakovlev,Deputy Chairman of the Board – Member of the Board of Subsidiary JSC VTB Bank (Kazakhstan):«We pay particular attention to implementation of statefinancing programs. For todaythe Bank has financed 51 projects for small businesses to the amount of more than 1,3 billion tenge (not including medium-sized businesses) within the Program of «Damu regions III» and « Program of female entrepreneurship lending». The projects for small businesses totaling over 2,6 billion tengehas been financed within the framework of the first and third lines of the Program of «Business Road Map-2020», Damu Fund has also implemented the guarantee of projects totaling more than 230 million tenge».
Overall, about 46% of total volume of small businesses lending wasspent by the Bank on investment purposes, 29% - on completion of fixed assets and 25% - on other purposes.
According to the specialists of the Bank, TOP-3 of the most popular products for small business lending includes: «Small loan», «Auto loans for small businesses» and «Overdraft for small businesses».
In the IV quarter of 2014 the Bank is planning to implement new products for small business lending, particularly commercial mortgage.
For reference:
SO JCS VTB Bank (Kazakhstan) - is 100% subsidiary Bank of the largest Russian OJSC VTB Bank. License of the NB of the RK No. 1.2.14/39 dated 06.10.2014.
The Bank was assigned international rating at the «BB+» / «Negative» forecast level from Standard & Poor’s Agency. The Bank is the participant of deposit insurance system. VTB Bank and its subsidiaries form international financial group which conducts its activities in Russian and foreign markets.
VTB Group consists of more than 20 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 complete 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.