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VTB receives the Moscow Mayor award for active participation in implementing municipal social programs

28 April 2008

VTB Bank received the Moscow Mayor award for active participation in implementing municipal social programs. As an authorized bank of the Moscow Government, VTB lays special emphasis on servicing Moscow enterprises and citizens.

VTB actively participates in implementing national priority projects in Moscow. Thus, loan investments to the national project "Affordable and Comfortable Housing to Russian Citizens" exceeded RUR 46.8 billion, including RUR 7.4 billion to housing construction and RUR 39.4 billion to mortgage lending. Under the project, VTB24, a retail subsidiary bank, is offering special socially oriented products, in particular, mortgage loans for a 50-year period to young borrowers, and mortgages to Institute graduates. 

In 2007, under the national priority project "Education" through a loan worth RUR 164 million, the Bank financed purchasing of a building to open a new branch of "The Russian State University", a Non-state educational establishment in Moscow.

An integral part of VTB business is sponsorship and charity as a joint responsibility of the authorities and business in solving socially important problems. Sustainable financial performance allows the Bank to enhance and diversify its sponsorship and charity programs, focused mainly on culture, education, sport and healthcare, as well as on targeted social assistance.

In 2007, the Bank rendered financial support to the Herzen Moscow Oncological Research Institute to purchase medical equipment, the Filatov Children Municipal Research Clinic No13 to purchase instruments for pediatric otorhinolaryngology, "The Theatre Development Fund" to implement its statutory activity and "The Pyotr Fomenko Workshop Theatre" to solve social, cultural and other issues of this Moscow public cultural institution.

"Moscow maintains leadership positions in the Russian economy underpinned by the competent policy of the Government aimed at consolidating the sound strength of all market players. The gratitude award given by Yuri Luzhkov, the Moscow Mayor is a high assessment of VTB activities and potential. It is essentially pleasant to get the award from such a reliable and strong partner as Moscow is", said Valeri Lukyanenko, VTB Senior Vice President, on 21 April, at the ceremony devoted to the 15th anniversary of establishing the system of authorized banks of the Moscow Government.  

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