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VTB continues to expand in the CIS

20 February 2008

VTB has opened a representative office in Almaty, the Republic of Kazakhstan, which is another step of VTB development strategy involving the expansion of the net of subsidiaries in the CIS.

The representative office is already working to increase the volume and effectiveness of credit and settlement services, trade and economic cooperation between the Russian Federation and Kazakhstan, search for potential partners, interested in trade with Russian firms and companies, etc.

Group VTB plans to create a subsidiary bank in Kazakhstan providing a wide range of operations for individuals and corporations in the nearest future.

JSC VTB Bank has another Central Asian representative office in Kyrgyz Republic, which has already started the registration of a subsidiary in Bishkek, expected to be completed in 2008.

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