VTB Bank Supported Russian Individual Entrepreneurs for 510 Billion Rubles

The top 5 regions in terms of the volume of business support provided by VTB Bank over the past six months included Moscow, St. Petersburg, the Voronezh Region, the Nizhny Novgorod Region, and the Republic of Tatarstan. For the replenishment of working capital and investment purposes, in the period from April to October 2020, the bank entered into more than 1.1 thousand credit agreements with a total volume of over 81 billion rubles. The largest amount of assistance was provided as part of programmes for restructuring existing loans. 

It is specified that the restructuring was approved in the total amount of over 325 billion rubles, of which 306 billion rubles were deferred under VTB’s own programmes. In total, more than 5.7 thousand enterprises of medium and small businesses have formalized the restructuring.

The most popular instrument was the preferential state Program No. 696. According to it, VTB’s small and medium-sized business clients have concluded more than 21 thousand loan agreements for the resumption of activities at 2 per cent per annum. The amount of support provided amounted to about 80 billion rubles.

It is noted that to pay salaries to employees under state program No. 422, more than 6.1 thousand credit agreements were concluded with clients of small and medium-sized businesses for a total amount of 26 billion rubles.

Ru-Main, 15.10.2020 

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