VTB Group operates in accordance with its Development Strategy for 2017–2019.
The Strategy based on three key priorities:
- Increased profitability – exponential growth in net profit to more than RUB 200 billion by 2019 and a return on equity of around 14%;
- Integration of the banking business – the creation of a single universal bank;
- Modernisation – a breakthrough in the development of a modernised, customer-oriented bank through large-scale technological transformation.
The Development Strategy envisages significant structural changes in the Group's business model with the aim of improving the quality of customer service, strengthening market positions and significantly improving financial results. To achieve these goals, six strategic initiatives were developed and are being implemented:
- improvement of the funding structure and reduction of the funding costs;
- integration of VTB and VTB24 banks and reaching a new level of cooperation between business lines;
- digital transformation of the Group’s business and processes;
- attainment of the target level of profitability in Corporate-Investment Banking while maintaining market leadership;
- development of a new model for Medium and Small Banking focused on exponential growth in terms of the number of clients and income diversification;
- new scale in Retail business.