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Vneshtorgbank shareholders elect supervisory board, appoint PwC as auditor

 
18 May 2002

The shareholders of Vneshtorgbank (VTB), at their annual meeting on Friday, affirmed a new nine-member supervisory board and approved PricewaterhouseCoopers as auditor

The bank said the new board includes Central Bank chairman Sergei Ignatyev, Central Bank deputy heads Vladimir Goryunov and Oleg Mozhaiskov, Ingosstrakh deputy general director Alexander Doko, presidential administration economics chief Anton Danilov-Danilian, government financial department head Anton Drozdov, Central Bank economic department head Nadezhda Ivanova, Deputy Finance Minister Sergei Kolotukhin, and VTB president and chief executive Yuri Ponomaryov

VTB, which was founded in October 1990, has charter capital of 42.1 billion rubles. The Central Bank holds a stake of 99.9%. Other shareholders are Gazexport, Sberbank, Energomashexport, insurer Ingosstrakh, and Russia`s Chamber of Commerce.

 VTB closed 2001 with consolidated assets of $6.1 billion to international accounting standards, deposits of $1.6 billion, and a loan book of $2.8 billion. The bank more than doubled net profits to $300 million last year from $139 million in 2000

VTB has subsidiary banks in Switzerland, Cyprus, Austria and Luxembourg.


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