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Retail loan sales up at VTB
According to the results of May 2020, sales of credit products for individuals increased in VTB by 14% compared to April. The total volume of loans issued amounted to 106,4 billion rubles.
According to the press service of VTB, the total volume of loans to individuals for the five months of 2020 amounted to 583 billion rubles. Significant growth showed cash loans. In total, customers completed 64,7 thousand transactions by almost 41 billion rubles, which is higher than April values by 27% in number and 21% in volume.
A positive effect on the sphere of consumer lending was the expansion of distance sales. The service of issuing cash loans by phone is available to existing customers of the bank who already have an approved offer, but cannot visit the office.
The positive dynamics was also shown by the car loan industry. Compared to April, the increase in the volume of disbursements amounted to 115%, in total, borrowers purchased more than four thousand vehicles worth 3,3 billion rubles. VTB specialists expect further growth in June thanks to a new state-sponsored car loan program.
Mortgage volumes recovered in May. The indicator grew by 7% in May compared with April - VTB conducted 24,7 thousand transactions worth 62,4 billion rubles. At the same time, VTB has one of the best indicators in the mortgage lending market: the number and volume of mortgage transactions increased by more than 2019% compared to May 30.
According to Anatoly Pechatnikov, VTB Deputy President and Chairman of the Board, consumer lending has begun to recover from the effects of the pandemic. The growth in May was obtained even taking into account a significant number of holidays. And if in April sales decreased by a third compared to last year, then in May the difference was less than 2%.