Russia’s VNESHTORGBANK (VTB) is to double its lending market share from a little over 9.0% to 15—18% in the next four years, VTB President Andrei Kostin has said. VTB also plans to increase its market share of funds drawn for corporate clientele by roughly as much, from the current 7.0% to 12—15% by 2010. According to the bank, the volume of credits provided to corporate clients exceeded R300 million as of April 1, 2006. The volume of funds drawn for that group of clients stood at R180b. The bank is to increase client credit volume by developing business with mid-sized companies. To this end, the bank is introducing a ’Client’s Clearing Centre’ service for mid-sized companies and plans to expand leasing and factoring services.
Source: ADVIS.RU, May 25, 2006
