In 2011, VTB Bank introduced new, flexible and maximally customer oriented products: quick auto-loan, express mortgage, universal mortgage.

From November 10, VTB Bank started offering the customers the unprecedented deposit action – Iavnana deposit. The action was charitable and customers who opened Iavnana deposit till December 31 (inclusive) received the additional 1% of interest, while another 1% was transferred to Iavnana Fund for the assistance of vulnerable families.

From April 12 to May 12, the action Loans for Medium Business at 12% has been conducted. The loans within the period of the action were issued at 12%. The mentioned interest rate was valid for the entire loan term.

During the year, branch offices in Kutaisi, Marneuli, Poti and Rustavi and Central Office in Tbilisi were renovated and designed in corporate style. On July 6, the ceremony of opening of new, renovated to the modern standards VTB Bank head office at 14 Chanturia St. has taken place.

According to data of international rating agency Fitch Ratings of March 4, the long-term credit rating of VTB Bank was defined as “BB-“, while forecast changed from “stable” to “positive”.

On April 4, the agreement has been signed, according to which VTB Bank will issue the low interest loan for rehabilitation of Khador-2. The agreement between Municipal Development Fund and the banks was pursuant to the document between the Government of Georgia and German Bank of Development (KfW) that envisages allocation of EUR 5.1 million grant for small hydropower stations’ development to Georgia.

On September 20, in Kutaisi, the two-year partnership agreement between VTB Bank and Kutaisi Drama Theatre has been signed. The mentioned partnership mainly implies financing the theatre refurbishment works by the Bank. For this project VTB Bank has allocated GEL 1,650,000.

On October 10, VTB Bank and European Bank for Reconstruction and Development signed the loan agreement, according to which EBRD has allocated to VTB Bank the loan resources for financing small and medium businesses. The total volume of loan made USD 7 million.

ON October 26, in the National Gallery, the paintings’ transfer ceremony took place. In particular, VTB Bank has gifted to the National Museum of Georgia Gigo Gabashvili painting “Portrait of Man” and Martiro Sarian work “Portrait of Maiden” of 1945.

According to the financial data of 2011 the assets of the Bank have grown by 26.6% and reached GEL 429 million; 

loan portfolio has grown by 31.2% and makes GEL 304 million. The fastest growing of them were the loans to individuals – by 47.2%; the mortgage loans have grown by 241.6%; the operational profit has increased by 53.2% and exceeded GEL 19 million;

Return on assets (ROA) made 2.7%, while return on equity (ROE) – 15.6%. The Bank revenue made GEL 10.2 million.