On 01 December 2011, Andrey Kostin, JSC VTB Bank President and Chairman of the Management Board visited the Republic of Azerbaijan. During the visit, Andrey Kostin met Ilham Aliyev, President of Azerbaijan to discuss VTB Group enhanced participation in finance and infrastructure projects of the Republic.
In his turn, Andrey Kostin said that “cooperation with the Republic of Azerbaijan is among our top priorities. VTB Group is sure to demonstrate its strength and efficiency on this dynamic market. We’ll do our best to materialize joint projects we have agreed with President Aliyev.”
VTB Group is sure to demonstrate its strength and efficiency on this dynamic market
JSC VTB Bank President and Chairman of the Management Board
Also, within the framework of his visit to Azerbaijan, Andrey Kostin met Elman Rustamov, Chairman of the Central Bank of the Republic. Participants of the meeting discussed prospects of developing VTB subsidiary bank in Azerbaijan as a universal financial institution up to 2013. The importance of the Republic of Azerbaijan to VTB Group is reflected in the plans of VTB Bank (Azerbaijan) to develop investment business in the local market and actively offer retail banking services.
Andrey Kostin also participated in the IV Baku International Banking Conference of the CIS member-states “The CIS Financial Markets: the Road to Sustainable Development amid Global Instability”.
Addressing the Conference, Andrey Kostin emphasized that “today financial and banking sector of the CIS member-states has a huge growth potential. An important step to meet the key challenges of their economies is creation of an international financial center in Moscow designed to attract foreign investments not only to the Russian market, but to the CIS market as well.”