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Ten years of Vneshtorgbank's presence in Saint Petersbourg

16 April 2004

In April 2004, Vneshtorgbank commemorates the 10th anniversary of its successful operation in Saint Petersbourg, and over this period the Bank won solid positions on the banking market of this city. In the context of the jubilee, a Vneshtorgbank delegation headed by the Chief Executive Officer of the Bank, Mr. Andrey Kostin, visited Saint Petersbourg on 9 April 2004.

Presently, the Saint Petersbourg branch of Vneshtorgbank rangesong leading financial institutions of the city. Assets of the branch were over twice as much throughout the last three years to 5.5 billion roubles as of 31 March 2004, proprietary funding base of the branch outstripped 3.1 billion roubles, and lending portfolio was 2.5 billion roubles. The customer base of the branch has been ever increasing - only in 2003 the branch attracted more than 750 corporate customers. Today, the branch serves leading companies and State-run enterprises and institutions of the city. Vneshtorgbank and its branch take part in arranging and distributing debt securities issued by the Saint Petersbourg Government, implementing the Programme designed to develop and rehabilitate the historical centre of the city and servicing the credit line made by EBRD to the Saint Petersbourg Government.

Vneshtorgbank also place special focus on expanding the exiting spectrum of banking services for clientele living in Saint Petersbourg. Within the framework of the Mortgage and consumer lending programme of Vneshtorgbank, the Mortgage and consumer lending centre was established in 2004 in the city. By the end of the current year, mortgage loan volume made to Saint Petersbourg population will be US$15 to US$20 million from US$150 million scheduled nation-wide. Vneshtorgbank`s strategic plans envisage expanding the existing network of offices in the city by establishing the Small business lending centre and more than 32 sub-offices and teller offices within the next four years.

In the course of the visit, a meeting took place between Mr. Andrey Kostin and Mr. Ilia Klebanov, plenipotentiary of the Russian President in the North-Western Federal District, where Vneshtorgbank`s expanded presence in the region, one of the most developed and attractive in terms of investment in the Russian Federation, was discussed. It was pointed out that expanded operation of Vneshtorgbank in the District is quite adequate for the needs of Vneshtorgbank and its customers, and for long-term strategy aimed at accelerated social and economic development of the North-Western Federal District. A programme intended for small and medium-size business development in Saint Petersbourg and in the Leningrad Region designed by Vneshtorgbank by joint efforts with Northern Investment Bank, extended co-operation with export credit agencies from Northern Europe in financing housing projects to be implemented in the North-Western Federal District areong promising projects of Vneshtorgbank in the region.

Under the regional network development guidelines approved by Vneshtorgbank, in addition to the existing three branches in the North-Western Federal District, another five are going to be operative in the Vologda Region, the Arkhanguelsk Region, the Murmansk Region, and in Karelia and the Republic of Komi by the end of the current year.

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