OREANDA-NEWS. June 25, 2008. VTB Bank Belarus has designed a small business finance programme using the Russian VTB Bank 24 technologies.

VTB Bank Belarus offers various loan products for corporate clients and individuals in national and foreign currency for the term of 10 years.

The Bank has simplified the loan application procedure. No business plan for financing a deal is required. VTB Bank Belarus informed that the interest rate of new loan products for small business will be determined individually for every client.

“There are more than 200,000 small businesses in Belarus and this figure will be growing, VTB Bank Belarus plans to take a leading position in small business finance market. Therefore the Bank has offered small companies and sole traders unique terms and mechanisms. We are confident that the programme will be in great demand and will help small business in Belarus grow more intensively,” the director of the retail banking department of the bank, Dmitry Frolov, said.

VTB Bank (earlier ZAO Slavneftebank) is a full-service financial institution which has been on the market since 1996. In April 2007 VTB Bank (Russia) acquired a controlling stake of the Belarusian bank. Other shareholders are Belneftekhim and its subordinate organisations, State Property Committee of the Republic of Belarus, Mozyr Oil Refinery, Beneftestrakh insurance company and Lidanefteprodukt.

On October 9, 2007 Fitch Ratings assigned long-term Issuer Default Rating (IDR) "B", support rating "4", short-term IDR ”B” and individual rating "E". The short-term IDR outlook is Stable.