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VTB and the Republic of Belarus develop cooperation

 
26 October 2011

VTB and the Republic of Belarus develop cooperation.

On 25 October 2011, a meeting was held between Andrey Kostin, President – Chairman of VTB Bank Management Board, and Alexander Lukashenko, President of the Republic of Belarus.

At the meeting, the delegations discussed prospects for bringing VTB share in VTB Bank (Belarus) to 100% by acquiring the government’s stake. Another issue was VTB possible participation in developing the petrochemical industry in Belarus within the programs of the new holding, which is being created on the basis of Belneftekhim concern.

JSC VTB Bank participation in financing joint investment products of Belarus and Russia was also discussed during the negotiations.

Attention was also paid to the promotion of Belarusian goods in the CIS markets through local VTB subsidiary banks by providing loans to importers.

“The market of Belarus has always been a priority for developing our business. VTB Bank (Belarus) is performing very well, and I am confident that our mutually rewarding cooperation will contribute to its success”, Andrey Kostin said.

Andrey KostinAndrey Kostin

 The market of Belarus has always been a priority for developing our business. VTB Bank (Belarus) is performing very well, and I am confident that our mutually rewarding cooperation will contribute to its success
Andrey Kostin
President – Chairman of VTB Bank Management Board

Forreference:

Closed joint-stock company VTB Bank (Belarus) is a comprehensive bank, which has been operating in the Republic of Belarus since 1996. VTB Bank (Belarus) has been regularly ranked among the country’s top ten banks. The controlling stake (71.4%) is held by JSC VTB Bank (Russia). Currently, its authorized capital amounts to BYR 84.4 billion, and its regulatory capital is at BYR 386.615 billion. 


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