May 28 11:22
VTB and RWB Group have agreed on a strategic partnership. It will be aimed at joint development of retail business, development and implementation of new products, and increasing the availability of advanced financial services.
The deal will be an example of the first direct cooperation between one of the country's largest banks and a leading player in the e-commerce segment.
“We believe that such interaction is a very important step for our bank and in general for the development of financial services based on the platform economy. VTB Bank has about 30 million clients, Wildberries has 80 million, and they do not always overlap, so for us this, of course, is reaching a completely different level, a different scale of client work. And, of course, Wildbury has a wide client base in small businesses – this is also very important for us,” said Andrey Kostin, President and Chairman of the Board of VTB.
For VTB, this is, in fact, the launch of a new milestone in the development of retail business, noted First Deputy President and Chairman of the Board of the Bank Dmitry Pyanov.
“For us, this is accelerating the speed of recruiting an active client base in retail as our first goal. The second priority is advertising and access of VTB Bank products to the platform ecosystem. Well, the third point is the sharing of big data for individual pricing and risk minimization,” Pyanov emphasized.
As a result of the agreement, VTB acquires a 5% stake in WB Bank with the potential to increase its share in the bank, and WB Bank, part of the RWB group, gains access to VTB’s infrastructure.
