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VTB loan portfolio increased by more than 3%

VTB loan portfolio increased by more than 3%
Photo: pixabay.com
In the four months of 2020, VTB Bank increased its retail loan portfolio by 3,1%. The increase was primarily provided by the mortgage portfolio.

According to the press service of VTB, for the period from January to April this year, the volume of retail lending amounted to 3,387 trillion rubles. The volume of mortgage loans increased more than other areas of retail lending - by 4,8%. Also, cash lending showed growth - by 2%. At the same time, the retail lending sector in Russia is slowing down.
 
The total portfolio of raised funds has grown by 6,9% since the beginning of the year. Citizens themselves increasingly began to transfer their savings to demand and investment instruments, said Anatoly Pechatnikov, VTB Deputy President and Chairman of the Board.

According to the bank's analysts, the restrictions associated with the coronavirus have made adjustments to the consumer behavior of the bank's customers. Thus, the positive dynamics of sales was noted only for mortgage loans - their volume compared to last year increased by 2% - to 58,3 billion rubles. At the same time, cash loans decreased only in April 2020 - by 54%, car loans - by 77%. Credit cards are also less in demand, but the decline is not as strong - only 1,3%.

Customers also began to reorient their own savings: instead of term deposits, VTB customers are increasingly transferring their money to demand funds and investment instruments. Since January, the portfolio of investment products has grown by 25% and reached 1,3 billion rubles. Altogether, VTB raised 7% more funds from individuals, taking into account investment products. The volume of this portfolio amounted to 5,738 trillion rubles.

In self-isolation mode, VTB has increased the share of customers who use remote services. In April, compared to the first quarter average, the share of online applications for cash loans increased by 20 percentage points - up to 57%, for mortgages by 16 percentage points - up to 40%, for car loans by 15 - up to 32%. Only 80% of all deposits were opened with VTB-Online, which is 20 percentage points more than the average in the first quarter.

In addition, VTB customers increasingly began to apply for credit holidays. In April and the first half of May, the bank accepted 215 thousand applications for almost 190 billion rubles. 195 thousand clients were approved.

Also, VTB is actively working in the direction of subsidized mortgages at 6,5% per annum. In total, more than 4,5 thousand loans were issued with a total amount of about 13,5 billion rubles. In total, about 11 thousand applications for 33 billion rubles were accepted.

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