VTB Group’s lending portfolio shrinks 6.8%

VTB Group (headed by VTB, Russia’s second largest bank), cut back on its loans to businesses by 6.8% in 2009. The figures decreased down to 2.1 trillion RUR (if calculated in accordance with the IAS), RIA Novosti reports.

VTB says the portfolio shrank due to the Russian companies’ declining demand.

At the same time, the bank’s share of the retail market rose up to 10.2% in 2009 against 8.8% in 2008, the company reports.

VTB Group’s retail lending portfolio grew by 12.5% last year and reached 435.3 billion RUR, which was a lot better than the market’s average.

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