VTB Bank

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.

As of December 31, 2005 according to IFRS (consolidated), its shareholders equity totaled $5.3 billion.

As of April 10, 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 [ [http://www.rencap.com/eng/research/morningmonitors/showarticle.asp?article_id=28541&temp= Renaissance Capital: VTB sells its 5% EADS stake to VEB] ] .

Management

As of December 2006, the Supervisory Council of VTB consists of Alexei Kudrin (Chairman, Minister of Finance of the Russian Federation), Dmitry Aratsky (Deputy Head of the Federal Agency for Management of Federal Property), Arkady Dvorkovich (Head of Experts' Directorate attached to the President of the Russian Federation), Anton Drozdov (Head of Economy and Finance Department of the Government of the Russian Federation), Andrey Kostin (CEO of VTB), Alexey Savatyugin (Head of Financial Policy Department of the Ministry of Finance of the Russian Federation), Sergey Storchak (Deputy Minister of Finance of the Russian Federation), Alexei Ulyukaev (First Deputy Minister of Finance of the Russian Federation) and Andrey Sharonov (Deputy Minister of Economic Development and Trade of the Russian Federation). [http://www.vtb.ru/rus/web.html?s1=376&l=2]

As of December 2006, its Management Committee consists of Andrey Kostin (Chairman since June 10, 2002), Vadim Levin (First Deputy Chairman), Alexei Akinshin (Deputy Chairman), Igor Zavyalov (Deputy Chairman), Gennady Soldatenkov (Deputy Chairman), Vasily Kirpichyov (Senior Vice President), Konstantin Kozhevnikov (Senior Vice President), Erkin Norov (Senior Vice President), Vasily Titov (Senior Vice President), Yulia Chupina (Senior Vice President). [http://www.vtb.ru/rus/web.html?s1=377&l=2]

udden death of multiple members of senior management

On 2007-12-06, Oleg Zhukovsky, a senior manager at VTB, was found dead in the swimming pool of his dacha outside Moscow. A murder investigation is underway. [Citation
last = Nowak
first =David
author-link =
last2 =Stewart
first2 =Catrina
author2-link =
title =Banker Found Dead In Pool
newspaper =The St Petersburg Times
pages =
year =
date =Tuesday, December 11, 2007
url = http://www.sptimes.ru/story/24109] Another top specialist, Alexander Funin, was found dead on December 27, 2007. [Citation
last =
first =
author-link =
last2 =
first2 =
author2-link =
title =2nd VTB Banker Dead
newspaper =The Moscow Times
pages =
year =
date =Tuesday, December 27, 2007
url = http://www.themoscowtimes.com/stories/2007/12/27/017.html]

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.

Major Subsidiaries

* VTB Bank Europe plc - London
* VTB Bank France S.A. - Paris
* VTB Bank Deutschland - Frankfurt
* Russian Commercial Bank Ltd - Zurich
* Russian Commercial Bank (Cyprus) Ltd - Limassol

Notes

External links

* [http://www.vtb.ru/rus/web.html?l=2 VTB corporate site]
* [http://www.vtb.ru/ Russian website]
* [http://www.vtb.com/rus/web.html?s1=1575&l=160 English subsidiary]
* [http://allcred.ru/banks/3/192 VTB 24 on allcred.ru] (Russian website)