VTB Bank boosts credit portfolio by 25 percent - Third office opened in Belgrade

Vneshtorgbanka (VTB) Beograd increased its credit portfolio by 25 percent in the first nine months of 2013 and continued to expand its business network by opening the third office in the center of Serbia's capital, the Russian bank announced in a release on Saturday (2 November 2013).

Clients of the new office are Russian companies headquartered in Belgrade and the employees of the Embassy of Russian Federation to Belgrade, but it is also open to local clients, the release reads.

On 20 April 2013, Vneshtorgbanka became a 100-percent owner of Bank of Moscow AD Beograd that was renamed to VTB Banka AD Beograd on August 30 by the decision of the Shareholders' Assembly. VTB Banka officially began its business activities in Serbia on September 16th.

By 30 June 2013, The VTB Group was the second strongest financial institution in Russia in the amount of assets (USD 259.8 billion) and in total assets in clients' accounts (USD 133.9 billion).