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VTB Bank selected for depositing Samara Region government funds

2 August 2012

The Samara Region Finance Ministry has deposited 700 million roubles with VTB Bank  after the lender won four lots in a public tender for depositing the regional funds in 2012.

The temporary placement of government funds with the bank will generate additional income for the Samara Region and ensure more efficient liquidity management of the regional budget. This will enable the regional government to increase spending on the development of priority industries and on social programmes.

"The fact that VTB was selected to hold the regional government’s deposits is further proof of the solid and mutually beneficial relations between VTB and the Samara Region," said Valery Lukyanenko  member of the VTB Bank Management Board.

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