Vneshtorgbank delegation headed by VTB Chairman and CEO Andrey Kostin visited on 25 May 2006 the Republic of Belarus. During the visit, a meeting was held between Andrey Kostin and President of the Republic of Belarus Alexander Lukashenko, where outlook for bilateral co-operation was discussed. It was emphasized mutual interest in expanding partnership in financing with a view to develop trade turnover and joint efforts in investment between the two countries.
After the meeting, Andrey Kostin said, among other things, that «with more active mutual integration of both countries, Russian business’s participation in Belarus economy will be only increased, due to a pressing need to develop baking services for such activities. Aiming at winning leadership in the post-soviet area VTB Group is working on its expanded activities in Belarus, in particular, financing for some major investment projects within the Republic.»
Andrey Kostin also held negotiations with the Chairman of the National Bank of Belarus Piotr Prokopovich within the framework of the visit. An exchange of views took place at the meeting on matters related to Belarus banking system development. With its representative office operating in Belarus since 2003, Vneshtorgbank is willing to actively boost provision of up-to-date banking services to corporate and individual customers in Belarus, in particular, making use of VTB Group’s funding base and technology capabilities. In this connection, at present Vneshtorgbank considers purchasing a controlling interest in a Byelorussian bank.