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A new branch of Vneshtorgbank opened in Nalchik

26 January 2005

A new branch of Vneshtorgbank has started to operate in Nalchik, offering a most comprehensive spectrum of banking solutions both to legal entities and individual customers.

By opening a new branch, Vneshtorgbank aspires to make its activities more efficient, to further diversify the geographic spread of its business and to enhance its customer base. The Bank`s initiative will facilitate the implementation of provisions set forth in the Cooperation Agreement signed in June 2004 between Vneshtorgbank and the Government of Cabardino-Balcaria aimed at developing socially important sectors of the Republic`s economy and at facilitating its investment potential growth.

Also, this is a further advance in implementing "The Concept of Regional Network Development" of Vneshtorgbank approved by the Bank`s Supervisory Board in February, 2004.

Under the Concept, Vneshtorgbank is set about opening another 16 branches in 2005. Today, the branch network of VTB consists of 52 branches, more than 90 offices and outlets all over Russia and 41 outlets in Moscow and Moscow region.

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