The Vneshtorgbank (VTB) supervisory board in a meeting on Thursday set May 17 as the date for the bank`s annual shareholders meeting, VTB reported in a press release.
The board decided to recommend that shareholders increase its members from five to nine. Candidates put forward for the board are Central Bank Chairman Sergei Ignateyev, Central Bank deputy chairmen, Vladimir Goryunov and Oleg Mozhayskov, Ingostrakh deputy general director, Alexander Doko, head of the presidential administration`s economic department, Anton Danilov Danilyan, head of the presidential office`s finance department, Anton Drozdov, head of the Central Bank`s consolidated economic department, Nadezhda Ivanova, Deputy Finance Minister Sergei Kolotukhin, and VTB Chairman Yuri Ponomarev.
Shareholders will also approve the VTB annual accounts and appoint an auditor.
VTB was founded in October 1990. Charter capital totals 42.1 billion rubles. The Central Bank holds 99.9% of its shares.
Other shareholders are Gazexport, Sberbank, ZAO Energomashexport, Ingosstrakh, and the Russian Trade and Industry Chamber.
As of January 1 2002 the bank`s consolidated assets, according to international accounting standards, totaled $6.1 billion. Client funds totaled $1.6 billion and the loan portfolioounted to $2.8 billion. Net profits for 2001 totaled $300 million, against $139 million in 2000.
Vneshtorgbank has subsidiaries in Switzerland, Cyprus, Austria and Luxembourg.