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Andrey Kostin meets heads of major international investment companies

24 May 2006

On 24 May 2006, within the framework of a visit by a group of international investors to Russia organized by Goldman Sachs Investment Bank, Andrey Kostin, Chairman and CEO of Vneshtorgbank met heads of thirty largest international investment funds.

These companies belong to the largest international financial institutions and presently are among the core international investors channeling funds into Russian securities. The total amount of funds managed by these funds is more than USD 4,000 billion.

On top of the meeting’s agenda were issues of further cooperation in the sphere of investment, namely, increasing investment into the Russian economy, enhancing capabilities of Russian companies and financial institutions to raise foreign borrowings, and cutting costs of such borrowing.

Andrey Kostin is cited to say that «Vneshtorgbank has considerably strengthened its core positions in the Russian banking industry due to its aggressive growth dynamics. Among its new lines of business are foreign borrowings made to further encourage financing of the Russian economy».

Such dialogue of Vneshtorgbank’s Chairman and CEO with global investors is an important step in solidifying VTB positive image in the international financial markets on the eve of its IPO, as well as in strengthening the Bank’s leadership in raising long-term financial resources from international investors.

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