, which officially changed its name to VTB Bank
on October 1, 2006, is the standard-bearer for the Russian banking industry
. Bank for Foreign Trade (Vneshtorgbank), listed on the Russian Stock Exchange as VTBR, was established in 1990 with the support of the Russian Government. Its purpose was to facilitate the foreign transactions of Russian enterprises. Today, VTB has evolved into one of Russia’s major lenders and a key player on the retail banking market. Furthermore, VTB
is the second strongest bank in the country in terms of net profit, capital, funding base, corporate, and retail lending.
Not only did VTB avoid bankruptcy during the 1998 financial crisis (which almost ruined Russia’s banking sector, but the body also preserved its solvency and strengthened its positions on the market. A turning point in the history of VTB came in 2002, as the bank was then headed by a young and ambitious team of managers, led by Andrei Kostin, President and Chairman of the Managing Board.
VTB’s new management have set as their goal to transform the bank into a full-service credit institution, operating according to the latest European standards in all key segments of the banking market in Russia. The bank has focused its activities in four main directions, including retail banking, investment banking, corporate banking, and business relations with financial institutions.
VTB 24 JSC is a retail bank within VTB group that caters for the interests of individual and small business clients. VTB 24 operates a network of 160 offices in Russia’s largest cities, offering its clients a package of integrated banking services such as bank payments, bank cards and online banking, small business loans, mortgage and consumer lending, bank deposits, etc.
VTB’s Corporate Banking business offers to its corporate and medium-sized business clients a wide range of banking solutions, including settlement accounts, current accounts, short-, medium- and long-term loans and Rubles or foreign currency. To its industrial clients, the corporate banking division of VTB is pleased to offer a specially-tailored solution - loans in precious metals for manufacturing purposes. These loans may be granted to borrowers both, in a cash and non-cash form.
VTB Capital, the investment division of VTB Group, is a key player on the Russian investment market. Headquartered in Moscow, VTB Capital conducts financial operations in London, Singapore and Dubai. The range of its activities includes the planning of debt market operations, equity markets analyses, private investment development, A&M and ACM advisory.
At the beginning of the third quarter of 2009, VTB reported equity in the amount of 8.331 billion Euro and 61 million Euro in assets.
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