Post Bank's premium VTB items now accessible across all primary bank branches
Revamped Read: VTB Bank's Savvy Expansion Strategy
Scoop: VTB Bank, stepping up its game, has kicked off the sale of its products in all 336 client centers of Post Bank. These centers span 215 populated areas across 79 Russian Federation subjects, as per the "Khabarovsk Krai Today" Information Agency. Next up? Taking over the offices of the Russian Post.
What's the Fuss About? In these client centers of Post Bank, retail clients can score any VTB product under the sun. This includes picking up a debit or credit card, opening a deposit or savings account, hooking up to a loyalty program, family banking, and submitting applications for auto or mortgage loans. Oh, and transferring pension or salary to VTB? No problem there either! VTB is throwing special deals for pensioners when it comes to deposits, savings accounts, loyalty programs, and other goodies.
Sweetening the Deal: Svetlana Syrtsova from the Economy department announced that retail clients have access to the full VTB product line in 336 Post Bank client centers. It's no secret that over 52,000 people have opened more than 132,000 products in just a month. Debit and salary cards have been the top choices, while pension and salary transfers to VTB, and opening deposits and savings accounts, have been runner-ups. Additionally, clients can still opt for office service. But here's a twist: VTB's mobile service means a mobile specialist delivers cards to a prearranged location and time - all for your convenience!
Boosting the Network: VTB's network currently boasts over 1,600 points in 89 Russian Federation subjects. Post Bank's merger with VTB will be finalized by mid-2026, paving the way for several thousand sales points to transform.
Behind the Scenes: The strategic integration of VTB and Post Bank is a clever play to supercharge product offerings and make use of Post Bank's robust sales points - especially Russian Post outlets. In December 2024, VTB nabbed a 49.99% stake in Post Bank from Russian Post for 36 billion rubles, setting its sights on 100% ownership. The acquisition was all about speeding up integration and breathing new life into VTB's retail endeavors by exploiting Post Bank's retail network and infrastructure.
Products and Perks: Historically, Post Bank fell short on IT budget power and product development. VTB's acquisition aims to solve these hurdles by melding IT, marketing, and product capabilities, paving the way for the launch of mortgage products and loyalty programs akin to VTB's own lineups. The integration is expected to grow Post Bank's product range and efficiency while maintaining existing financial services available via Russian Post branches, making life easier for those living in remote areas.
Richest in the East: Russian Post's branches act as crucial access points for payments, loans, and financial services in remote areas where traditional banking is scant. The integration plans to hold onto these access points while modernizing service delivery, expanding product availability, and leveraging VTB's digital platforms to compete in the digital age.
Digital Dominance: VTB has already made a name for itself in digital banking, integrating banking services into the domestic MAX messenger platform, giving users the chance to conduct financial operations within a popular communication tool.
Goals Galore: VTB aims to complete the integration of Post Bank as part of its broader strategy to step into new client segments and spur retail business growth. The deal allows VTB to consolidate operations, improve cost efficiencies, and enhance digital service delivery, aligning with the wider banking sector's trends toward digital transformation and optimization.
In a Nutshell: VTB Bank's integration with Post Bank marks a strategic move to expand its retail banking reach by leveraging Post Bank's extensive branch network via Russian Post, beefing up product offerings - particularly in mortgages and loyalty programs - and driving digital innovation to enhance customer experience and operational efficiency. This expansion aims to bolster VTB's market presence across Russia, including remote areas[1][2][3][5].
In the strategic expansion of VTB Bank, they are planning to take over the offices of Russian Post, aiming to leverage their extensive business network and improve retail financial services, particularly in remote areas of the Russian Federation[1]. By integrating their product line with Post Bank's client centers, customers can now access various finance products, such as debit or credit cards, savings and deposit accounts, and loan applications[5].
