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VTB finances Buryatia and the Ivanovo region

11 December 2008

VTB continues lending to constituent entities of the Russian Federation. Under the project to support Russian regions, the Bank provided RUB 800 million for up to one year to the Republic of Buryatia and RUB 195 million for 12 months (366 days) to the Ivanovo region. The loans were approved by the RF Ministry of Finance.

The governments of these constituent entities will cover the main budget expenditures with the borrowed funds to safeguard the social and economic stability in the regions.

VTB actively cooperates with the Russian Federation constituent entities and municipalities providing assistance in priority economic, social and financial objectives.

For reference:
VTB Group is a leading Russian financial group with a strong tradition in Russia and the CIS, and a presence in 17 countries around the world. The Russian Government is VTB's majority shareholder, with a 77.5% holding. The remaining 22.5% of the shares are traded on the RTS and MICEX in Russia, and VTB's global depositary receipts are traded on the London Stock Exchange. VTB offers a wide range of services in corporate, retail and investment banking in Russia, some other CIS states and a number of countries in Western Europe, Asia and Africa. As of 1 July 2008, VTB was the second largest financial group in Russia by assets (USD 108.8.2 billion) and by customer accounts (USD 44.6 billion). VTB Group is among the top three national retail banks with a network of 1001 outlets in Russia and the CIS. In 2008, VTB launched its Investment Banking business, which operates from Moscow, London and Singapore offices.

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