VTB Group Enters the POS-Lending Market
On the 9th of October VTB officially announced launch of the “light banking” project – Leto Bank. VTB24, retail subsidiary of VTB Group, is ready to invest 5 bln rubles over three years into development of Leto Bank. For now the bank operates within small regional networks in Ryazan, Kaluga and Vladimir. Leto Bank started issuing express-loans in August and now has a loan portfolio of about 7 mln rubles.