VTB Sets Ambitious Growth Targets and Family Banking Focus
VTB aims to grow its active customer base to 35 million by the end of 2026 while elevating its service level in a major strategic push. This plan was shared during VTB Strategic Week by the bank’s Senior Vice President Dmitry Breytenbecher in a statement from the bank’s press service.
The bank notes that advances in technology and big data enable a highly personalized approach, extending a level of service previously available mainly to affluent clients to a much broader customer base.
According to Breytenbecher, the goal is to become a bank that supports all daily life needs, benefiting not just the customer but their family as a whole. The plan includes expanding the Family Bank initiative, enhancing the loyalty program, and investing in in-house payment solutions and methods.
Under the new strategy, VTB plans to roll out a comprehensive set of services for customers and their relatives. Family Bank is projected to connect one million Russian families within three years, while the share of customers using daily banking services is expected to double to 15 million.
The bank intends to tailor offers to each family. For instance, spouses will be able to save jointly, and older customers will receive a stronger focus on protection of cards and accounts.
In addition, VTB will introduce the VTB Pay payment solution, broaden payments through the System for Fast Payments (SBP), refresh the loyalty program for retail customers, and provide other everyday financial tools.
In 2024, the bank plans to introduce a service to request money during emergencies, raise limits on extra cards and stickers, and enable automatic account replenishment for family and friends.
Investment in the loyalty program for individual customers will rise by 1.8 times this year, giving users the option to select refund categories and receive rebates after purchases. Today, about 15 million customers participate in the program, and by late 2026 that share is expected to reach the bank’s entire active base of 35 million clients.
The relaunch of the loyalty program is anticipated to drive nearly a tripling of customer transaction activity by the end of 2026.