CdTe:(V, Ge) single crystals are grown using the Bridgman-Stockbarger method. The impurity concentrations in the melt are N V = 1 × 1019 cm−3 and N Ge = 5 × 1018 and 1 × 1019 cm−3. Electrical and galvanomagnetic characteristics are studied in the temperature range 300–400 K. It is found that the equilibrium characteristics are governed by deep levels (ΔE = 0.75–0.95 eV) located close to the midgap. Low-temperature optical absorption spectra indicate that the impurity levels of V and Ge ions in the low-energy region are in different charge states. In addition, the samples are annealed in Cd vapor and then rapidly cooled. This annealing causes the decomposition of various complexes formed during the crystal growth and an increase in both electrical conductivity and charge carrier concentration.