VTB predicts record volume of card transactions in Russia

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AK&M 19 September 2023 14:29

According to VTB, in 2023, the volume of retail POS turnover in Russia will approach 50 trillion rubles. It will exceed the values of 2022 by 6% and 2021 by 13%.  This is stated in the bank's message.

According to the results of the first half of the year, the volume of POS turnover in Russia increased to 23.7 trillion rubles, and in the second half it may exceed these values by 9% and reach 25.8 trillion rubles. According to the bank, in October-December of this year, Russians will make purchases for 13.4 trillion rubles, which will be 8% higher than the values of the third quarter (12.4 trillion rubles).

VTB Group is a Russian financial group comprising more than 20 credit and financial companies operating in all major segments of the financial market. In the CIS countries, the group is represented in Armenia, Ukraine, Belarus, Kazakhstan, and Azerbaijan. VTB banks in Austria, Germany and France operate under a European sub-holding headed by VTB Bank (Austria). In addition, the group has subsidiaries and associated banks in the UK, Cyprus, Serbia, Georgia and Angola, as well as one branch of VTB Bank in China and India, two branches of VTB Capital Plc in Singapore and Dubai.