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Vneshtorgbank started operations in the Kemerovo Region

1 March 2004

A visit of the Vneshtorgbank delegation headed by Mr. Andrey Kostin, its President and C.E.O., to the Kemerovo Region took place on 9 February 2004.
Within the framework of the visit, Mr. Kostin (on the left) met the Governor of the Kemerovo Region, Touleyev. In the course of negotiations the parties expressed their interest in developing long-term co-operation between the regional administration and Vneshtorgbank in development and implementation of particular target-oriented programmes and investment projects aimed at more developed and more efficient regional economy. The understanding was reflected in the Co-operation agreement signed between Vneshtorgbank and the Government of the Kemerovo Region.

The Agreement envisages further development of the financial and banking support to enterprises and institutions of the Kemerovo Region, and joint implementation of economic, social and financial policy in the region.
Under the Agreement, Vneshtorgbank will finance projects in the manufacturing sector and participation of the Bank in development programmes designed for socially important industries and core enterprises, including development programmes for the regional mining sector and projects related to exploitation of gold deposits in Tisoulski district located in the Kemerovo Region.
In addition, development of bilateral co-operation under the Agreement is going to promote favourable conditions for technological progress in the industrial sector of the region and industrial technology improvement.
Under the Agreement, Vneshtorgbank will provide local administration, enterprises and institutions with a full spectrum of banking services and take part in arrangements of the offering and distribution of the securities to be issued by the Kemerovo Region and commercial papers of companies operating in the region. Subject to its development strategy, Vneshtorgbank will also foster development of small and medium-size businesses on the Kemerovo Region territory, and render expanded financial services to the regional population, including mortgage and consumer lending programmes to be implemented in Kemerovo and Novokuznetsk.
An opening ceremony of the VTB Kemerovo branch took place on 9 February 2004 with the assistance of Andrey Kostin andan Touleyev. The newly established branch will deal with above matters and is going to promote more developed and more efficient operations of the Bank, expanded geography of the customer base, raise new clients, improve service quality and efficiency for economic agents.

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