The energy of success: A new outlook
In 2007, VTB became the first Russian bank to hold an initial public offering. The IPO, at the time the largest anywhere in the global banking sector, helped VTB to raise US$ 8 billion. Demand for VTB’s GDRs on the London Stock Exchange was nine times higher than the offer, attracting interest from nearly all the leading US and European investment funds. In Russia, more than 120,000 people bought VTB shares.
As a public company, VTB Bank policy became much more transparent. Independent directors were brought onto the board. An audit committee was established at the VTB Supervisory Council, and the Investor Relations Division was added to the bank’s structure. In 2007, Standard & Poor’s declared VTB one of the most transparent Russian banks.
In 2008, VTB became the first Russian bank to receive a banking licence in China and India, and opened branches there.
In the same year, the group’s investment business was consolidated as VTB Capital in Russia and VTB Capital PLC (formerly VTB Europe) outside Russia.