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Russia's VTB introduces online stock buying

Source: VTB

VTB is one of the first on the Russian market to launch a service for buying stocks online and without visiting a branch.

The service is available to VTB clients via Internet and mobile banking. According to the bank's forecasts, the service will increase the number of VTB clients registered in the Moscow exchange trading system to 1 million people.

Today, VTB clients can buy VTB or Federal Loan bonds directly from their main account. In the near future, exchange-traded mutual funds in different currencies will be included in the stocks.

The native interface of VTB-Online is simple and easy to use for both experienced and novice investors. To purchase stocks, the user must go to the "Investments" section and make a purchase. The minimum investment amount is 10 thousand rubles.

"Our strategic goal is to make investments as simple, clear and accessible as possible in all channels. Now in the unified VTB-Online system, customers will be able to buy VTB stocks and Federal Loan bonds – the basic tools for novice investors. If the client is interested in a wider list of stocks, they can install the application "VTB My Investments", which is a full-fledged trading terminal that gives access to more than 5,000 stocks. We believe that investments will soon become an integral part of savings for every family, " said Vladimir Potapov, head of brokerage services at VTB Bank and chief Executive officer of VTB Capital Investments.

"We’ve seen the interest of VTB customers in investment products, and our task is to offer a comprehensive service to meet their financial needs. The new functionality will make investments even more accessible to the public. Customers will not only be able to open a deposit or savings account in VTB online, but also buy basic stocks” said Nikita Chugunov, head of the digital business Department - senior Vice President of VTB.

In 2019, VTB customers opened more than 550 thousand new brokerage accounts, more than 90% of them doing so online. The number of VTB clients registered in the Moscow exchange trading system has doubled over the past year, from 319,000 to 650,000. We expect that by the end of this year, this number will be about 1 million people. 

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