On 7-8 July, 2005, a regular meeting of heads of Vneshtorgbank`s Corporate division with the Bank`s regional managing directors took place in Boronezh, at the premises of Voronezh Region Administration. Held under the direction of Deputy Chairman Igor Zavyalov, the meeting was designed to further enhance the Bank`s corporate business and to improve cooperation between structural elements of Vneshtorgbank within the VTB Group. Participating in the meeting were heads of customer-driven businesses of the Bank`s Head office, managing directors of its Corporate Division who are in charge of business development in key macrosectors of the Russian eonomy, bank officers from its Investment Division and some other structural units of VTB.
From left to right: V. Penin - head of Vneshtorgbank branch in Voronezh, V. Lukianenko - Vneshtorgbank vice-president, I. Zavyalov - Vneshtorgbank Deputy Chairman , V. Kulakov - Head of the Voronezh region Administration
At the end of 2004 - beginning of 2005, the Bank switched over to a different system of managing its corporate business, which makes the Corporate division fully responsible for the development results, efficiency, management and coordination of corporate business in all regions where the Bank is present, in all corporate customer categories and along the whole product line of Vneshtorgbank.
The meeting stated that the outcome of 2004 and the 1st half of 2005 proved the soundness of the development strategy of VTB as a multi-branch bank of global dimension which would enable the Bank to reach its ambitious goal to increase its Russian corporate market`s share in the near 3 years from 3% to 10%.
There was a wide exchange of views on major development guidelines and peculiarities of Vneshtorgbank`s operations with key sectors of the Russian economy and major customer sectors in the regions. Many other issues relating to credit and investment policies, as well as cross-sales were also discussed. Of special importance were the issues of future development of Vneshtorgbank`s regional branch network in the context of enhancing corporate customer business. Also on the agenda were problems of increasing efficiency of cooperation between the Head office departments and the Bank`s regional branches, including mid-size customer servicing, launching new market-oriented products, such as factoring, franchising, settlement center for a net customer and innovative technologies of customer services. Concrete measures were defined to implement corporate business development programs and action plans for the year 2005.
This meeting was an important step in strengthening corporate business management system and was designed to enhance cooperation inside the Bank for the benefit of its customers.
Within the framework of the meeting, heads of Vneshtorgbank`s Corporate division met leaders of Voronezh region Administration and heads of major enterprises of the region. The parties discussed Vneshtorgbank` s participation in developing the regional economy and opportunities of mutuall cooperation.
Vneshtorgbank is a leading commercial bank of Russia in terms of its share capital, which amounts to RUR42.1 billion.
Presently, VTB regional network comprises 55 branches and more than 140 offices. As of 1 April 2005, the Bank`s equity reached RUR74.1 billion, its net assets exceeded RUR442 billion, and its lending to non-financil sector of economy totaled RUR227 billion.