Project description
and objectives:
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VTB-RFS is a specialised subsidiary of JSC Vneshtorgbank (“VTB”) operating in
the retail financial services and MSME business segments. VTB-RFS offers a
wide spectrum of services for individuals and small businesses, such as
consumer, mortgage and MSME lending, current/deposit accounts, plastic cards
services etc. At present the VTB-RFS branch network includes over 150
branches and sub-offices located in key Russian regions.
The Small Business Programme was initially launched by VTB in July 2004, and
was subsequently transferred to VTB-RFS. VTB-RS strategic goals include
becoming the leading provider of MSME financing in Russia in the medium term.
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Transition impact:
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Throughout its twelve years of operations, the RSBF programme demonstrated the
ability of EBRD to be a successful provider of SME/MSE finance in Russia, both
in terms of quality and quantity. To date, over USD 3.0 billion has been
disbursed to MSEs in Russia in over 340,000 loans advanced through the
branches of the RSBF partner banks. The wide regional outreach of the RSBF
has been a vital success factor for the project, which has brought tangible
economic benefits to many of Russia’s most depressed regions.
VTB-RFS’ participation in the RSBF project will further boost transition
impact by significantly increasing the RSBF programme’s outreach to cover a
large number of locations where RSBF currently has none or very limited
presence.
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The client:
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VTB-RFS is a specialised subsidiary of JSC Vneshtorgbank (“VTB”) operating in
the retail financial services and MSME business segments. VTB-RFS offers a
wide spectrum of services for individuals and small businesses, such as
consumer, mortgage and MSME lending, current/deposit accounts, plastic cards
services etc. At present the VTB-RFS branch network includes over 150
branches and sub-offices located in key Russian regions.
The Small Business Programme was initially launched by VTB in July 2004, and
was subsequently transferred to VTB-RFS. VTB-RS strategic goals include
becoming the leading provider of MSME financing in Russia in the medium term.
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EBRD finance:
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The proposed transaction would support the client’s strategy to further
develop its MSME operations by providing it with a USD 150 million RSBF loan
for on-lending to eligible MSEs across the Russian regions. With VTB-RFS
participation the number of RSBF partner banks will reach 10.
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Total project cost:
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Over USD 500 million.
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Environmental impact:
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Screened FI. VTB-RFS is required to comply with the EBRD’s Environmental
Procedures for Small and Micro Lending and incorporate these into its own
credit procedures. This will include, inter alia, compliance with Russian
national environmental, health, safety and labour regulations and standards,
compliance with the ILO Conventions related to child and forced labour and
discriminatory practices at work, adherence to the EBRD’s Environmental
Exclusion and Referral List for FIs, appointment of a member of senior
management with overall responsibility for compliance with the environmental
procedures, and submission of annual environmental reports to the EBRD.
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Technical
cooperation:
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Limited, training-focussed technical cooperation funding will be provided to
boost VTB-RFS MSE capacity in Southern Russia.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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Press Centre: +7 (495) 982-58-58
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EBRD contact:
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Oksana Pak, Operation Leader: pako@ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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