OREANDA-NEWS. August 20, 2009. In 2009, in accordance with the instructions from the Russian Government, VTB Group continues to increase the volume of resources channeled into the Russian economy. In July, the Russian banks of VTB Group provided over RUB 174.6 billion, reported the press-centre of VTB.

The parent bank of VTB Group provided financing to Russian enterprises for RUB 133.9 billion. As of 31 July, VTB Bank’s Loans to the economy indicator calculated in compliance with the Bank of Russia requirements amounted to RUB 1.396 billion having increased RUB 83.7 billion (or 6.4%) since the beginning of the month.

Lending to backbone enterprises grew with outstripping rates. Thus, VTB loan portfolio growth rate in terms of borrowers of this category amounted to RUB 75.6 billion, or 11.8% against 1 July 2009. In July, the Bank cut lending rates to strategic enterprises of defense industry, in particular, JSC Motorostroitel, NPO Saturn, JSC Chernyshev Machine-Building Enterprise (Moscow), JSC KAMAZ and others. On average, the rates decreased 2.3%.

In compliance with the Russian Government regulations, it was resolved to provide VTB borrowers with state guarantees totaling RUB 63.2 billion. The loans to be covered by state guarantees amount to RUB 114.2 billion. Presently, VTB has resolved to grant short-term loans, before such guarantees are executed, to JSC Chernyshev Machine-Building Enterprise (Moscow), JSC NPO Glushko Energomash and NPO Saturn.

On monthly results, VTB Group granted the largest recourses to metallurgy enterprises – over RUB 37.9 billion, trade companies – over RUB 12.8 billion, transport and transport infrastructure development enterprises – over RUB 11.5 billion, power industry enterprises – over RUB 13.5 billion and oil and gas industry – over RUB 6.9 billion.

Federal and municipal authorities continued to enjoy active financial support, exceeding RUB 2.1 billion, while defense and space industries received about RUB 18.1 billion, and agribusiness got over RUB 2.5 billion. Small- and medium-sized customers were provided with new loans for over RUB 5.7 billion.

VTB Group also continued its socially oriented activity to finance households. In July 2009, individuals were granted loans totaling over RUB 18.3 billion, with mortgage loans accounting for over RUB 0.9 billion, and car lending for over RUB 2 billion.