Vneshtorgbank
Encyclopedia
Bank VTB former Vneshtorgbank, is one of the leading universal banks of Russia
and the largest in terms of authorized capital.
As of 31 December 2005 according to IFRS (consolidated), its shareholders equity totaled $5.3 billion. 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.
(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 (Independent 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).
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).
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 85.5% of the bank via the Federal Property Agency
.
Russia
Russia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...
and the largest in terms of authorized capital.
As of 31 December 2005 according to IFRS (consolidated), its shareholders equity totaled $5.3 billion. 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.
Management
As of September 2009, the Supervisory Council of VTB Bank consists of Alexei KudrinAlexei Kudrin
Alexei Leonidovich Kudrin was the Minister of Finance and Deputy Prime Minister of Russia from 18 May 2000 to 26 September 2011. After graduating with degrees in finance and economics, Kudrin worked in the administration of Saint Petersburg's liberal Mayor Anatoly Sobchak. In 1996 he started...
(Deputy Prime Minister, Minister of Finance of the Russian Federation), Arkady Dvorkovich
Arkady Dvorkovich
Arkady Vladimirovich Dvorkovich is an official of the Russian Chess Federation. Dvorkovich favors his opponent, Kirsan Ilyumzhinov, who is running for re-election of FIDE....
(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 (Independent Consultant), Matthias Warnig
Matthias Warnig
Matthias Warnig is a former member of the Stasi and currently the Managing Director of the Nord Stream AG, a company for construction and operation of the Nord Stream submarine gas pipeline from Russia to Germany....
(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).
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).
Privatization
Until January 2007, the Russian government held a 99.9% stake in VTB. Thereupon, at the World Economic ForumWorld Economic Forum
The World Economic Forum is a Swiss non-profit foundation, based in Cologny, Geneva, best known for its annual meeting in Davos, a mountain resort in Graubünden, in the eastern Alps region of Switzerland....
in Davos
Davos
Davos is a municipality in the district of Prättigau/Davos in the canton of Graubünden, Switzerland. It has a permanent population of 11,248 . Davos is located on the Landwasser River, in the Swiss Alps, between the Plessur and Albula Range...
, its CEO announced that the government would retain a 50% + 1 share and privatize the rest of company shares. At present the government owns 85.5% of the bank via the Federal Property Agency
Rosimushchestvo
The Federal Agency for State Property Management was a subdivision of the Russian Ministry of Economic Development and Trade that managed Russia's federal state property...
.
Major Subsidiaries
- VTB Capital
- VTB Capital plc (London, Singapore, Dubai, New York, Hong Kong, Kyiv)
- VTB 24
- 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 - EurobankBanque Commerciale pour l'Europe du Nord - EurobankBanque Commerciale pour l’Europe du Nord or Banque Commerciale pour l'Europe du Nord - Eurobank was a Soviet-controlled bank in Paris.In 2005 Russian Vneshtorgbank became the major shareholder...
(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