VTB Bank
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Bank VTB (Russian: ОАО "Банк ВТБ"), former Vneshtorgbank, is one of the leading universal banks of Russia and the largest in terms of authorized capital.[citation needed]
As of 31 December 2005 according to IFRS (consolidated), its shareholders equity totaled $5.3 billion.
As of 10 April 2007, the bank reported assets of $52 billion, up from $36.7 billion in December 2005. It earned a profit of $1.17 billion in the fiscal year 2006.
In December 2007 The bank sold its 5% stake in the European Aeronautic Defence and Space Company, which it purchased for $1 billion in 2006, to the Russian Development Bank VEB for $1.45bn[1].
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[edit] Management
As of September 2009, the Supervisory Council of VTB Bank consists of Alexei Kudrin (Deputy Prime Minister, Minister of Finance of the Russian Federation), Arkady Dvorkovich (Aide to the President of the Russian Federation), Anton Drozdov (Chairman of the Management Board, Russian Pension Fund), Andrey Kostin (President and Chairman of the Management Board, JSC VTB Bank ), Alexey Savatyugin (Head of Financial Policy Department of the Ministry of Finance of the Russian Federation), Vitaly Saveliev (CEO, JSC Aeroflot-Russian Airlines), Alexei Ulyukaev (First Deputy Chairman of the Central Bank of the Russian Federation), Grigory Glazkov (Independant Consultant), Matthias Warnig (Managing Director, Nord Stream AG), Nikolai Kropachev (Rector of the St. Petersburg State University) and Muhadin Eskindarov (Rector of Finance Academy under the Government of the Russian Federation). [1]
As of September 2009, its Management Committee consists of Andrey Kostin (Chairman since 10 June 2002), Mikhail Kuzovlev (First Deputy Chairman), Vasily Titov (First Deputy Chairman), Andrey Puchkov (Deputy Chairman), Gennady Soldatenkov (Deputy Chairman), Olga Dergunova (Member of the Board), Valery Lukyanenko (Member of the Board), Evgueny Novikov (Member of the Board). [2]
[edit] Privatization
Until January 2007, the Russian government held a 99.9% stake in VTB. Thereupon, at the World Economic Forum in Davos, its CEO announced that the government would retain a 50% + 1 share and privatize the rest of company shares. At present the government owns 77.47% of the bank via the Federal Property Agency.
[edit] Major Subsidiaries
- VTB Capital
- VTB Capital plc (London, Singapore, Dubai)
- VTB Bank (Austria) AG - Vienna. Former Soviet-controlled Donau Bank AG.
- VTB Bank France S.A. - Paris, subsidiary of VTB Austria. Former Soviet-controlled Banque Commerciale pour l'Europe du Nord - Eurobank (BCEN-Eurobank).
- VTB Bank Deutschland - Frankfurt, subsidiary of VTB Austria. Former Soviet-controlled Ost-West Handelsbank AG.
- Russian Commercial Bank Ltd - Zurich
- Russian Commercial Bank (Cyprus) Ltd - Limassol
[edit] See also
[edit] References
[edit] External links
- VTB corporate site
- Russian website
- English subsidiary
- Austrian subsidiary
- VTB 24 on allcred.ru (Russian website)
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