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VTB Bank Supervisory Council to extend Andrey Kostin’s term of office

 
25 April 2012
On 25 April 2012, VTB Bank Supervisory Council unanimously decided to extend the term of office of Andrey Kostin, VTB Bank President and Chairman of the Management Board, for another 5 years until 9 June 2017. Russian Prime Minister Vladimir Putin earlier approved the relevant government directives.

 “We have successfully entered new foreign markets, established a large global bank with a universal franchise and designed a successful business model. Our financial performance is the best evidence that we have the right strategy.” 

Andrey Kostin said: “VTB Bank has charted significant successes in recent years. We have successfully entered new foreign markets, established a large global bank with a universal franchise and designed a successful business model. Our financial performance is the best evidence that we have the right strategy. In 2011 we delivered a record net profit. I am sure that, during the next five years, VTB will be able to achieve even greater results for the benefit of both our shareholders and the broader Russian economy. We will aim to transform our bank into a lending agency boasting superior banking technologies, high KPIs, and the most innovative level of corporate governance.”

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