Russian bank VTB increased its financial indexation significantly over the past eight months during a growth in the banking sector as a whole, according to a report released Sept. 25.
The bank increased its lending portfolio by 14 percent, allowing more loans to go to private individuals, small and large businesses. The entire sector saw only a 6.7 percent increase.
The amount of loans given to a range of businesses also increased by 15.2 percent with a portfolio of 353 million Georgian Lari (GEL), or approximately $200 million. Loans to private individuals increased by 11.6 percent.
Deposits made by private individuals grew by 6.6 percent. Overall deposit growth increased by 20.3 percent exceeded 405 million GEL, approximately $231 million.