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VTB Press Office comments on 2Q 2011 report data

12 August 2011

The increase in remuneration and compensation for members of the Management Board of VTB Bank in 2Q 2011 is due to the following two factors:

- according to the 2010 year results, VTB Bank demonstrated a record net profit (RUB 54.8 billion), and therefore, the members of VTB Bank’s Management Board were paid a lump-sum remuneration based on the 2010 performance results;

- the remuneration and compensation growth was influenced by the compensation payments related to the retirement of several VTB Bank top managers. 

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