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Standardized automated banking systems of Vneshtorgbank`s regional divisions

2 June 2005

Vneshtorgbank jointly with the Russian companies "BIS" and "New Athens" successfully completed a project aimed at developing standardized automated banking systems (ABS) for branches.

Acting under its IT Development Strategy, Vneshtorgbank made a decision to reject by the 2005 year-end some of ABSs used by the regional network divisions. All 55 of VTB`s existing branches, as well as those scheduled to start operating this year, will be equip[ed with the ABS "New Athens" and ABS "BISquit" - innovative products of the leading Russian companies.

Citing Andrey Korotkov, Senior Vice President of Vneshtorgbank responsible for IT development, "through standardizing technological platform of operations in the branch network, Vneshtorgbank plans to significantly enhance the efficiency of its regional divisions and to radically cut bank risks while constantly monitoring and controlling business processes".

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