VTB pointed out the absence of systemic problems and defaults in the construction industry.

      June 4, 2026 15:53 Society Despite the persistently high key interest rate and the traditional predominance of working capital lending, VTB is recording a stable investment demand from small and medium-sized businesses. This was stated by VTB Board Member Ruslan Yeremenko in an interview with "Ъ FM" at the St. Petersburg International Economic Forum (SPIEF). According to him, more than a third of the bank's lending portfolio in the SME segment is allocated to investment purposes. "In volume terms, this is more than a third of our loan portfolio, the figure remains significant," the top manager emphasized, commenting on concerns about the decline in the share of investment loans in favor of working capital loans. Ruslan Yeremenko noted that a comprehensive system of state support helps maintain the investment activity of entrepreneurs. Despite the tight monetary policy of the Central Bank, preferential programs allow businesses to reduce interest burdens and direct resources towards development. "The system of government support measures is constantly transforming... They help: today, companies' profits are growing... Ultimately, the enterprise receives greater profits, focuses on development, and hence new investment projects emerge," he explained. The banker cited agriculture and the tourism sector as the most vivid examples of the effectiveness of state programs. Thanks to specialized programs from the Ministry of Agriculture and the Ministry of Economic Development, Russia has become a leading exporter of meat products, and the hotel business is experiencing a momentum of quality growth. According to Yeremenko, VTB is currently the provider of almost all major applications for the development of the tourism industry under program No. 141. The board member also touched on the construction sector. He acknowledged the decline in mass mortgage demand due to expensive loans but pointed out the absence of systemic problems and defaults. The drivers of the industry remain citizens' attitudes towards real estate as a savings instrument and the need to replace dilapidated housing stock. The bank is recording a trend of developers transitioning from spot development to comprehensive territory development projects. NIA "Nizhny Novgorod" has channels on Telegram and MAX. Subscribe to stay informed about major events, exclusive materials, and timely information. Copyright © 1999—2025 NIA "Nizhny Novgorod". When reprinting, a hyperlink to NIA "Nizhny Novgorod" is mandatory. This resource may contain materials 18+