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VTB Group launches its services in the Republic of North Ossetia - Alania

25 November 2008

On 25 November 2008, VTB delegation headed by Andrey Kostin, President and Chairman of the Management Board, arrived in the Republic of North Ossetia - Alania (North Ossetia). The visit was timed to coincide with the launch of VTB Group operations in Vladikavkaz.

Early in November 2008, the Group simultaneously opened two outlets in the city: VTB Bank operational office specializing in large and medium-sized corporate banking, and VTB24 operational office offering services to individuals and small enterprises.

During the visit, Andrey Kostin was received by Taymuraz Mamsurov, head of the Republic. The meeting covered a wide range of issues related to extension of the Bank's financing to the Republic, large-scale infrastructure projects implemented in North Ossetia, and possibilities of further development and strengthening of partnership between VTB and the Government of the Republic.

VTB has been efficiently cooperating with North Ossetia since 2007, developing mutually rewarding long-term relations with its leading enterprises. In order to increase the number of financial and banking services offered to industrial companies and households of the region, VTB's management decided to expand VTB Group presence in the Republic.

President and Chairman of the Management Board Andrey Kostin;
Artistic and General Director of Mariinsky TheatreValery Gergiev;
Head of the Republic of North Ossetia - Alania Taymuraz Mamsurov.

Today, both corporates and individuals of the Republic may enjoy a full range of high technology and top quality financial services based on the vast real-life experience of one of the largest banks in the country.

VTB's customers have access to all banking services accepted in the international practice: opening and handling of ruble and foreign currency accounts, international and domestic settlements, forex transactions, precious metals transactions, renting of safe deposit boxes, securities transactions, issuance and operation of international bank cards, etc.

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 bln.) and by customer accounts (USD 44.6 bln.). 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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