Financial Markets: Increasing Complexity, Maintaining Stability

3–5 July 2019, ST. PETERSBURG

    Andrey Kostin, the Chairman and the President of VTB, announced that the bank is planning to expand its chain in the regions and become just as close to the people as convenience stores.  

    Mr. Kostin said at the International Financial Congress: “We are going to use all cutting edge technologies, including phone and IT banking, but we still believe that banks need to be just as available as convenience stores. It’s a great competitive strength, as it creates a comfortable environment, and therefore a higher demand for banking services”.  

    According to Mr. Kostin, VTB has done a lot and is committed to do more to develop its infrastructure as part of creating a financial center in Russia: “On January 1 VTB Group together with Russian Post launched the Post Bank Project. Within 3 years we plan to open 15 thousand offices around the country”.

    Mr. Kostin commented: “Our intention is to attract 20 million new customers within the next 5—6 years. And most of them are not involved in any banking system yet”.