On 10 January 2008, VTB obtained a license to open its branch in New Dehly, India.
VTB Branch is to be opened on 12 February 2008 during a visit of Victor Zubkov, Prime Minister of Russia to India to open the Year of Russia in India in 2008.
Among the ceremony attendees will be Victor Zubkov, Andrey Kostin, VTB Chairman and CEO, other high-ranking officials of Russia and India, and directors of the largest companies of the two countries.
Opening of VTB Branch is an important step to further develop foreign economic links between Russia and India and enhance VTB activity in India. New office will allow VTB with its representatives in 17 world countries to increase the efficiency of its banking services offered to Russian and Indian companies under joint projects, in particular, in oil and gas sector, power engineering industry, and in military and technical cooperation.