The Bank was founded in 1971 in Frankfurt-on-the-Main to perform foreign-trade operations between the USSR and Germany. Since December 2005, VTB has acquired the majority interest of VTB Bank (Deutschland). The bank cooperates tightly with corporate customers from West European countries and Russia (CIS countries), as well as bank institutions in Russia and other CIS countries. The products offered include euro clearing, as well as trade and structured finance. VTB Bank (Deutschland) is a member of Federal Association of German Banks (Bundesverband deutscher Banken e.V) and Deposit Insurance Fund of the Federal association of German Banks (Einlagensicherungsfond im Bundesverband deutscher Banken e.V.).