Extraordinary General Meeting of Shareholders of OJSC VTB Bank (Azerbaijan)
VTB (Azerbaijan) increased loan portfolio size for small and medium business
Loan portfolio size of VTB (Azerbaijan) for small and medium-sized business lending has made AZN 73,1 mln. as at July 2014, having increased more than 3 times indicators of the analogical period of last year.
During the first six months of 2014 the volume of loans granted by bank to representatives of small and medium-sized businesses is AZN 29,3 mln. It should be mentioned that at the end of second quarter of last year the volume of business lending was AZN 12,7 mln.
Head of Small and Medium-Sized Business Department of VTB Bank (Azerbaijan) Bakhruz Jamalov: “Taking into consideration the trends of market development we are taking an active part in the development of small and medium-sized enterprises in the country. We plan significant increase in commercial loan portfolio to the end of the year. It should be noticed in 2012 we entered into the market with 2 million of value of loans portfolio and reached significant results in spite of SME credit market is considerably competitive”.