VTB has recorded an increase in demand for deposits from medium and small businesses

In January-February, VTB's clients from among representatives of medium and small businesses conducted 1.7 million transactions for placing funds on deposits and non-deductible account balances. This is twice the result for the same period last year, said Denis Bortnikov, Deputy President and Chairman of the VTB Management Board, in Stavropol as part of the Business Day.

According to him, the bank also recorded a twofold increase in demand for deposit products for SMEs by the end of 2024. "Small and medium-sized businesses especially appreciate the opportunity to manage their finances quickly. It is important for them to receive income from available funds and have prompt access to capital. Bank deposits for a short period of time allow them to effectively solve this problem," Bortnikov said during the Business Day held in Stavropol and dedicated to the launch of the Business Battle startup competition.

According to him, short-term deposit products are especially popular among entrepreneurs. Two thirds of transactions are made on Overnight deposits, which allow you to deposit funds for one night and receive interest the next morning. By the end of 2024, the number of deposit transactions in the bank exceeded 8 million, which is twice as much as a year earlier.

On Thursday, Stavropol hosted a Business Day dedicated to the launch of the Business Battle startup competition. The project, organized by the Russian Media Group Western Press, will be held for the first time in the Stavropol Territory with the support of the regional government and VTB. It is aimed at supporting small and medium-sized businesses, searching for promising start-ups and drawing attention to the development of entrepreneurship.