On 24 March 2005, Vasily Titov, Vneshtorgbank's Senior Vice President, Member of the Board, and Valentin Zhukov, First Vice President of the Russian Volleyball Federation signed Cooperation Agreement and announced that Vneshtorgbank would be General Partner of the National Men Volleyball Team.
Under the Agreement, Vneshtorgbank shall sponsor the preparation of our National Men Volleyball Team for International and National tournaments and competitions in the years 2005 to 2008, including the Team's participation in 2008 Olympic Games in Beijing.
Vasily Titov is reported to say that recognizing social responsibility and the importance of effective implementation of the state policy in the sphere of physical culture and sports, Vneshtorgbank has traditionally placed a special emphasis on supporting national teams in the context of its corporate sponsorship.
The Agreement is designed to further consolidate and promote the mutually reinforcing partnership between Vneshtorgbank and the Russian Volleyball Team which goes back to 2003. The successful performance of the Russian volleyball players on the Olympic Games in the Athens could well be attributed, among other factors, to Vneshtorgbank's support as the Official partner of the Federation for the team training.
Vneshtorgbank is a major commercial bank of Russia with the authorized capital reaching RUR 42.1 billion. The Russian government is a 99.9% stockholder of the Bank.
Among the Russian banks Vneshtorgbank has been awarded the highest possible ratings by international rating agencies, such as Moody`s Investors Service, Standard & Poor`s and Fitch. Traditionally, the Russian rating agencies have also referred Vneshtorgbank to the highest stability group of banks.
Vneshtorgbank has a countrywide network of branches, subsidiaries and affiliates which are located in the most important and economically lucrative regions of the Russian Federation.