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VTB approves credit holidays for 40 thousand citizens

VTB Bank for the first ten days of April approved credit holidays for 40 thousand citizens and considered applications for credit holidays from small and micro businesses for 226 billion rubles. At the same time, appeals for 160 billion have already been approved, RIA Novosti reported on Monday, April 13, with reference to the head of the company, Andrey Kostin.


Earlier in the day, Russian President Vladimir Putin held a working meeting with Kostin in Novo-Ogarevo. The head of VTB presented a report on how the Bank implements the measures taken by the President and the government to ensure the sustainability of economic development in the context of the spread of SARS-CoV-2 coronavirus in the country.

Kostin also told the head of state about working with the Bank’s clients who have suffered from coronavirus infection, as well as citizens whose average monthly income has decreased by 30% or more.

From March 31, VTB will activate credit holidays for the most popular products — mortgages, car loans, and cash loans.
In addition, the meeting discussed the system of short-term interest-free loans provided by banks to pay salaries to employees of small and medium-sized businesses whose financial condition has significantly deteriorated.


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According to Kostin, since March 30, VTB has launched its own programs to support small and microenterprises, including deferred payments for up to six months.

The Russian leader pointed out to the head of the Bank the need for financial support for small and medium-sized businesses, strengthening the work of call centers, increasing the functionality of Internet access channels to banking services and significantly simplifying a number of procedures.


On April 6, the Russian government approved the maximum amount of loans for citizens ‘ requests for credit holidays, introduced against the background of the spread of coronavirus. Thus, the maximum amount of the loan, the obligations of which are secured by a mortgage, initially amounted to 1.5 million rubles, and then was increased to 4.5 million rubles.


An outbreak of COVID-19, caused by the SARS-CoV-2 virus, occurred in Wuhan, China, at the end of December last year. In a few months, the disease has spread to more than 190 countries. On March 11, who declared a coronavirus pandemic.

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AJAYI Temitope Samuel, A blogger by profession for the past 5 years. He studied Political Science at the Ekiti State University, Ado Ekiti, Contact: +2348137451665 Twitter: @iamtemitopesam,

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