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VTB has decreased its stake in OJSC VTB Bank North-West as a result of a REPO transaction

 
12 February 2008

JSC VTB Bank ("VTB") has decreased its stake in OJSC VTB Bank North-West ("VTB North-West") to 71.5% as a result of a REPO transaction with VTB North-West shares. The REPO transaction, which represents a standard commercial operation, has been completed between VTB and a non-affiliated company.

This deal will make no influence on VTB plans to continue further consolidation of VTB North-West shares and integration of VTB North-West into VTB Group. As previously announced, VTB North-West will specialize in the corporate business in the North-West Federal District.


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