TRUST Bank (TRUST), a Russian lender, has recorded an increase in banking card loan growth rate in the first half of 2013, according to a consumer lending survey in Russia.
Prepared by the ratings agency Expert RA, the survey found that the bank’s card portfolio grew 175% since July 2012, exceeding the 121% rate posted by Alpha Bank.
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According to the survey, the rise in growth rate indicates that the banking cards segment has attracted interest and is set for growth on the Russian financial market.
TRUST management board chairman Fedor Pospelov said, "We place the highest priority on our credit card business and our plans to expand our card portfolio to RUB20bn by 2014.
"In the last 1.5-2 years we have actively expanded our portfolio of POS-loans, and now we are supporting it at that level but do not aim for higher growth rates."
In terms of POS-loan portfolio size, the bank showed a growth rate of 39% over the previous year, while issuance of POS-loans decreased overall.
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By GlobalDataWith 253 branches in 166 cities, from Kaliningrad to Vladivostok, TRUST Bank offers a full range of retail banking services to corporate, SME and retail customers across the country.
