VTB 24 Bank is one of the largest Russian and European brands in the field of finance. This organization is represented by a wide network of branches throughout Russia. The financial institution under consideration provides services in the segment of lending, registration of deposits, remote services, and is actively working with private companies. What do his customers say about the activities of this largest banking brand? How do employees respond to the financial institution?
General information about the bank
Before exploring the opinions of VTB 24 Bank, reviews of employees and customers about its services, we will study the basic facts about the respective brand.
The total assets of the financial institution exceeds 2 trillion rubles. The bank was established on the basis of another institution - Guta-Bank, whose shares were acquired by Vneshtorgbank in 2004. Judging by some public data - with the assistance of the Central Bank of the Russian Federation. In 2005, the Vneshtorgbank Retail Services brand appeared on the Russian market. In 2006, the new bank was renamed VTB 24. Now 100% of the shares of the financial institution are owned by VTB Bank, the main owner of which is the state. VTB 24, in turn, has owned the Summer Bank brand since 2012. This institution specializes in providing “quick loans” - with a more loyal policy of assessing the solvency of the borrower, but at the same time a sufficiently high interest rate. In turn, VTB 24 itself (customer reviews of loans confirm this) is characterized by more stringent standards when deciding on loan applications, but at the same time, the bank offers lower interest rates than those established by a subsidiary.
Services
This financial institution specializes in providing banking services to individuals, individual entrepreneurs, as well as small and medium-sized enterprises. The VTB 24 brand is represented in most regions of the Russian Federation. Among the most popular banking services provided by the bank:
- mortgage loans;
- RBS;
- leasing of bank cells ;
- making money transfers;
- issue of plastic cards.
An important place in the bank's activities is servicing salary projects. The placement of individuals' funds on deposits is another key specialization of VTB 24. Customer feedback on deposits characterizes the conditions that are offered by the bank, which are fully consistent with current market trends - a little later we will study the corresponding points of view in more detail.
Crisis Development Strategy
How does the bank intend to cope with the current difficult situation in the financial sector of the Russian Federation? According to a number of experts, VTB 24 (reviews and comments of top managers of a financial institution that can be found in the media confirm such estimates) is going to actively participate in the implementation of state mortgage programs, as well as initiatives in the framework of state support for car loans.
Thus, the total turnover of the bank during the crisis period, according to analysts, will be high. However, the organization’s profit reduction is likely to be observed. Top managers of the bank expect to ensure further growth of their own network in the regions. An important positive factor in this area of activity will be, according to the leadership of the institution, will be the merger of the parent company - VTB - with the Bank of Moscow. The fact is that following the merger, VTB will be able to make its presence in the retail segment of the banking market more intense. The VTB 24 brand, in turn, can count on receiving a significant share of the business in the segment of activities carried out by the Bank of Moscow.
During the crisis period, the management of the financial institution under consideration expects a decrease in the value of assets based on consumer loans. Regarding mortgage portfolios, as well as those that are formed in the car loan segment, the drawdown, according to top managers of the bank, will be less due to the participation of the institution in government programs to provide citizens with soft loans in the relevant areas of lending.
Bank reviews
Having studied how things are going in a financial organization in terms of macroeconomic trends, we consider the specifics of local business processes that occur in it. The main source of information for us will, of course, be reviews of VTB 24 Bank - employees, customers, experts, presented on thematic online portals, as well as in the media.
Thus, we will be able to get acquainted with the unofficial opinions of ordinary citizens, as well as with the official position of these or those persons. The views of the financial community on the financial institution under consideration can be classified into the following main categories:
- points of view evaluating the attractiveness of VTB 24 conditions on deposits;
- opinions reflecting the attitude of clients to the quality of services in the field of mortgage lending;
- points of view regarding consumer loans at VTB 24, as well as car loans;
- assessing the level of customer service at the bank;
- points of view regarding the provision by the institution of other services - RBS, rental of cells, money transfers, servicing salary projects.
A separate category of opinions about VTB 24 is employee reviews of work in this financial organization. We study the noted categories of points of view evaluating the activities of the bank in more detail.
Deposit Reviews
What do VTB 24 customers say about their deposit experience? Citizens, if you study the relevant points of view on thematic online portals, try to form reviews based on 3 main indicators:
- interest rate;
- the possibility of replenishment of deposits;
- requirements for the amount of invested capital.
We study the details of this in more detail.
As for rates, such a financial institution as a whole is trying to bring it closer to the average market indicators. As clients of the institution note, there are certainly more favorable offers on the market, however, VTB 24 is becoming more preferable for them because of its size and the minimum likelihood of leaving the market - due to the crisis or due to the revocation of a license from the Central Bank of the Russian Federation. In addition, it is more convenient for citizens to draw up deposits in the bank in question, as it is represented by a huge network of branches. You can go to any office of a financial institution located in the city and carry out the necessary deposit operations - replenishment, withdrawal, change of any conditions for storing funds.
Mortgage Reviews
The largest segment of credit and financial services is mortgage loans. In it, the bank in question is among the leaders. What are the reviews of VTB 24 on loans issued for the purchase of housing? The corresponding orientation of opinion, in turn, is determined by such factors as:
- interest rate on loans - in combination with the duration of the mortgage agreement;
- requirements for the documents of the borrower, for his income, field of activity, credit history.
As for the rates, it is clear that due to the rather strict policy of the Central Bank of the Russian Federation to provide funds to private financial institutions, they cannot be so low as to meet the wishes of most customers. The Central Bank's key rate now is 11%, and this is almost twice as much as, for example, at the beginning of 2014. However, this indicator is actually at the level of the crisis of 2008-2009, when the mortgage market, although it slowed down, but still continued to develop.
Citizens of the Russian Federation have the right to issue loans for the purchase of housing under state programs - in particular those aimed at subsidizing the purchase of new buildings. VTB 24 Bank (customer reviews of mortgage loans confirm this) is trying in the most active way to ensure that a citizen can take this opportunity to purchase an apartment. Bank specialists explain in detail the requirements for documents required for a person to participate in the corresponding state program, the income of the borrower, as well as his credit history. Based on the opinions that appear online, it is quite difficult to track the statistics of positive decisions on housing programs from VTB 24. However, judging by the fact that there are few negative reviews indicating a bank’s unjustified refusal to satisfy applications for a mortgage loan, we can conclude that this financial institution is more likely to give a citizen a housing loan with a state subsidy, than to decline his request for a loan.
As for standard housing programs - those that are implemented on the secondary market, and therefore, in the general case, are not drawn up on preferential terms - the demand for them, which is understandable, is not yet too high due to excessive credit rates. However, the demand for such loans remains - firstly, because Russian citizens need housing, and secondly, real estate prices in many regions of the Russian Federation are significantly reduced during the crisis period. Therefore, people tend to quickly buy an apartment, albeit at higher rates, while it is relatively cheap. As for the terms of such loans in VTB 24 (customer reviews of housing loans confirm this), they objectively cannot be the most attractive due to the reasons that we have indicated above. But from the point of view of the process of organizing decision-making on loans by a bank, a financial institution does its job well. VTB 24 specialists explain in detail to people the essence of the requirements developed by the organization for borrowers, help to collect the necessary package of documents, analyze available sources for significance when making decisions on credit applications.
In general, citizens are satisfied primarily with the attitude of the bank towards mortgage borrowers, note the interest of a financial institution in giving a person a desired loan for an apartment based on an objective analysis of his solvency.
Reviews on consumer loans and car loans
In the segment of consumer loans, as well as loans issued for the purchase of automobiles, the conditions of VTB 24 Bank, as noted by the Russian clients of this financial institution, are quite consistent with current market trends, and in some segments they look more attractive. In general, citizens characterize the brand policy in the field of the loans in question, fully fair - both in terms of rates and in terms of requirements for borrowers. Perhaps this is due to the fact that the current demand in the lending market, due to crisis in the Russian economy, has somewhat decreased - and the bank is trying to maintain it by offering more and more competitive conditions for interest rates and softening the requirements for borrowers where possible.
Feedback on additional services
The quality of the provision of other VTB 24 financial services - for example, RBS, cell rental, money transfer, plastic card issuance, judging by customer reviews, is at a high level. A financial institution offers sufficiently competitive conditions for these services, both in terms of prices and in terms of the quality of the infrastructure within which they are provided. In this sense, the bank looks like a modern and high-tech brand, as its customers consider.
Service Quality Reviews
For a person who is going to apply to any financial institution on a serious matter - for example, related to placing money on a deposit or obtaining a mortgage loan, not only the scale of the bank’s activity, but also the conditions for other services, how much the ratio of the corresponding brand to its customers. For him, it may be more important to characterize the activities of VTB 24, which includes an assessment of the competence and responsibility of employees, than a point of view that reflects, for example, the financial attractiveness of banking services. What do people write about the quality of service considered by the financial institution of their customers?
Opinions of citizens are sometimes very subjective. It happens that one person who visited a specific office of VTB 24 will leave a positive review, the other will be completely opposite in emotions. But in general, citizens agree that one of the largest Russian retail brands in the banking segment is trying to keep the leader’s brand, including in terms of the quality of customer service. As people say, VTB 24 employees show rather high competence in resolving most of the issues that arise, do not remain aloof from the difficulties that arise, communicate politely, and try to clarify the nuances of certain services.
It can be noted that many customers of the bank note the high quality of feedback of the financial institution online. Apparently, the specialists of this institution monitor the main thematic portals on which citizens express their opinion about VTB 24. The feedback or assessment of the bank’s activity, left by someone and caused a resonance and attracts the attention of the community, is not ignored by the specialists of the financial organization who, if possible, prepare an answer to it - on the same thematic portal or contact the person who left information about the activity credit institution. In principle, the brand is not bad, as many citizens believe, works with its customers on social networks. In this case, the response sent to evaluate the performance of VTB 24 can be additionally commented by those people who have encountered a similar problem or have observed it directly in the same office, which is referred to in the corresponding message from the person. Often, bank employees also join in such discussions, and at the same time try to help resolve the issue.
Job reviews
Reviews on thematic online portals are left not only by the clients of the institution in question. The employees of this financial institution, both current and those who have switched to work in other companies, are also actively writing about VTB 24. Reviews of the bank's employees relate to such key points as the size of the salary, working conditions, corporate culture features , career prospects.
In general, nothing unusual, since the employees of most other organizations - and not only financial ones - are interested in the same aspects of professional activity. But what is the specificity of the working conditions offered by VTB 24 Bank? Employee reviews of the work, of course, are very different and sometimes subjective. Much depends on what were the expectations of the specialist from the start of professional activity in this bank. It happens that a person without special experience in the financial sector expects fast career growth and high salaries - simply because he comes to one of the largest banking brands in Russia. But, like in any other serious organization, it is necessary to earn this at VTB 24. Fortunately, judging by the reviews, in general, there is an understanding of this circumstance among employees of a financial institution.
Work at VTB 24 (reviews on thematic online portals confirm this) - these are high requirements for the level of competence, responsibility, professionalism of specialists, their interest in the successful development of not only themselves, but also the brand as a whole. Bank employees first of all undergo training - special attention is paid to providing the necessary skills for beginners, those young financiers who have just come to the financial market. The acquired skills, of course, enable the bank's specialists to subsequently progress in their work. Therefore, the basis for further career growth should be laid by the employee at the very first stages of interaction with the brand.
Feedback from VTB 24 employees regarding salaries, working conditions and the specifics of interaction with other employees and management is positive. Apparently, the status of the brand as one of the largest and most famous in the Russian Federation, which needs to keep the brand of one of the leaders in the banking sector, again affects. Including in the aspect of personnel policy.