Bank VTB PAO Wealth & Investment Management Strategy Call Transcript
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Your wealth and Investment Management business. Globally, as you know, new technologies have made access to the investment markets much easier and faster for private individuals. And in Russia, this trend has been amplified by the drop in interest rates, which made traditional savings products less attractive.
In the past few years, we saw the dramatic growth in this market, and VTB captured this trend very nicely. We are the market leader in wealth and investment management in Russia. In 3.5 years, our assets under management are more than quadrupled and the number of clients increased almost 6 times. Wealth and Investment Management now is one of the significant contributors to the group's bottom line. It's a highly digitized business. Our assets under management are now 23% of the size of our total banking assets, not yet the level of Swiss Bank, but we're catching up quickly.
So by all accounts, it's a important part of VTB
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