A summing-up meeting of the Vneshtorgbank`s Corporate Segment is held on 1-2 December 2005 in Nizhni Novgorod where heads of regional offices of the Bank take part. The purpose of the meeting chaired by Igor Zavyalov, Deputy Chairman, in charge of the Bank`s Corporate Segment is to strike a draft balance of activities performed by the Corporate Segment in 2005, to set strategic benchmarks and targets for the corporate business development in 2006 and for the period till 2008, as well as to discuss most efficient ways to reach these targets.
The opening speech was made by Mr Zavialov, who stated that the nine-month performance results of the current year and estimates as of the end of 2005 proved the right development strategy of the Bank as a national network-scaled institution of the international level and the feasibility of the ambitious goals aimed at increasing the Bank`s share in the Russian corporate market up to 10% or 12% in three years to come.
According to Mr. Zavialov, Vneshtorgbank`s present corporate market share is from 6,2% in fund raising to more than 7% in lending. By the end of 2006, Vneshtorgbank expects to enlarge the corporate lending portfolio up to Rbl 315 billion. Rates of growth in loans made to the Russian manufacturing sector are scheduled to be in 2006 by over 50% more than in 2005.
Heads of customer service departments from the head office, managing directors of the Corporate Segment in charge of banking business development in key macrosectors of the Russian economy, related structural units as well as representatives of subsidiaries of the Bank such as VTB Retail Services and Vneshtorgbank-Ukraine are taking part in the meeting.
A broad exchange of views on primary lines of business and specific features of the Bank`s services to key Russian industries and main customer segments in the provinces is expected at the meeting. Discussion of cross-sales development, outlook and targets of the regional network of the Bank for 2006 in terms of corporate business expansion, and more efficient interplay between structural subdivisions of the Bank within the emerging VTB Group will be crucial points of the agenda. A special presentation of Vneshtorgbank-Ukraine subsidiary bank will take place at the meeting.
Interplay of the head office with regional offices, in particular, under a new project to be implemented in all regional markets where the Bank is present involving services intended for medium-size businesses, launching of new demanded products such as leasing, factoring, a network customer-oriented payment and clearing centre, up-to-date customer service techniques are of top priority at the meeting.
At the meeting, Mr. Zavialov is going to meet Mr. Valery Shantsev, newly appointed Governor of the Nizhni Novgorod Region, and chief executives of major businesses and institutions of the region on Vneshtorgbank`s involvement in regional economic development and co-operation.
This meeting is an important point of developing and strengthening the corporate business governance of the Bank aimed at improved interaction between structural units within VTB Group in the interest of the Vneshtorgbank`s customers.
Vneshtorgbank is a leading Russian commercial bank in terms of authorised capital to reach Rbl 42.1 billion.
At present, the regional network of the Bank comprises 55 branches and more than 140 offices. Shareholders` equity was Rbl 74.1 billion, net assets were over Rbl 508 billion, whereas loans made to the non-financial sector were Rbl 283 billion as of 30 September 2005.