VTB Bank (Vneshtorgbank) is a leader in the national banking sector. The Bank holds a sustainable competitive position in all segments of the market. The Russian Government is VTB's major shareholder, with a 77.5% stake.
The remaining 22.5% of the shares are traded on the RTS and MICEX in Russia, and VTB’s global depositary receipts are traded on the London Stock Exchange. VTB offers a wide range of services in corporate, retail and investment banking in Russia, some other CIS states and a number of countries in Western Europe, Asia and Africa. As of 31 December 2008, VTB was the second largest financial group in Russia by assets (USD 126 billion) and by customer accounts (USD 37.5 billion). VTB Group is among the top three national retail banks with a network of 1020 outlets in Russia and the CIS. In 2008, VTB launched its Investment Banking business – VTB Capital, which operates from Moscow, London and Singapore offices.
10.06.2009 Streamlining its operations in Western Europe subsidiaries, JSC VTB Bank has completed the disposal of its 100% holding in Russische Kommerzial Bank AG (Switzerland) to Gazprombank OJSC. The deal was approved by regulatory authorities of Switzerland. More
Business and Financial News
French Bank to Repay Government Bailout - 14.10.2009 Crédit Agricole, the French bank, said Wednesday that it would repay the €3 billion of debt the government bought last December, becoming the latest big bank to pay back a bailout. Source: New York Times
Card fraud in the UK falls by 23% - 08.10.2009 The amount of money being lost through card fraud fell by 23% in the first half of the year in the UK, as criminals changed their strategies and prevention measures began to take effect, according to figures published today. Source: Guardian.co.uk
The trend: large banks will acquire smaller banks - 18.09.2009 KBW Inc., the New York-based boutique that advises financial institutions, expects 500 to 1,000 U.S. banks to fail by 2011, Chief Executive Officer John Duffy said. Source: Bloomberg
Colonial Banc Group declares bankruptcy - 15.08.2009 Colonial became the largest US bank to fail this year after it was declared bankrupt and had the bulk of its assets taken over by rival BB&T, the government banking insurer said Friday. Source: Agence France-Presse
Fighting economic crisis in U.K. - 27.07.2009 Current economic difficulties in U.K. were caused by global financial crises and have resulted into the following changes in the country's economy in 2007-2008: Source: BanksDaily.com
The European Central Bank injects €442 billion into banking system - 25.06.2009 The European Central Bank (ECB) allotted €442 billion to banks for 12 months, the biggest amount it has ever given in a single auction. The amount was more than most economists had expected. Source: RTTNews
VTB Bank (Vneshtorgbank) is a leader in the national banking sector. The Bank holds a sustainable competitive position in all segments of the market. The Russian Government is VTB's major shareholder, with a 77.5% stake.
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