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Vneshtorgbank's depositary rating has risen

 
30 September 2004

The authoritative international rating company Thomas Murray, which offers professional services in rating depositary activities, risk management and research, marked up Vneshtorgbank`s depository rating.

Vneshtorgbank has been given an A rating, a stable forecast, for all forms of securities issued in accordance with the legislation of the Russian Federation, including shares, corporative bonds, denominations in roubles, government, sub-federal and municipal bonds, and also OVGVZ and OGVZ.

In 2003, Vneshtorgbank was Russia`s premiere bank, having received a specialised rating from Thomas Murray supporting its ability to offer depository services to global custodians, brokers and other clients on an international level, and offering accounts, deposits and accounting for securities on a legal risk level.  The present increase in rating reflects the results of the detailed survey repeatedly carried out by Thomas Murray in 2004, and tallying with the acknowledgement of the widening of Vneshtorgbank`s capabilities in providing depository services.

At the present time, VTB is one of the largest Russian depositories.  The approximate volume of securities in Vneshtorgbank`s depository service is more than 9 billion USD; the quantity of securities in the service is more than 3 billion.  Vneshtorgbank`s depository is traditionally the leader in the field of depository services in the State exchange loan market (OVGVZ and OGVZ); 70-75% of the market volume can be found in Vneshtorgbank`s depository service. The successful realisation of the policies being implemented by Vneshtorgbank in widening the volume and increasing the quality of its services, while supporting the increase in its rating, is allowing the further strengthening of VTB in the infrastructure of the Russian securities market.


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