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Andrey Kostin attends meeting of Shareholders Consultative Council

30 November 2012

The 17th meeting of the VTB Shareholders Consultative Council (SCC) was held in Moscow on 28 November 2012. VTB Bank President and Chairman of the Management Board Andrey Kostin, Senior Vice President and Head of the Strategy and Corporate Development Department Igor Piun and Senior Vice President and Deputy Head of the Finance Department Dmitry Pyanov took part in the shareholders’ discussion of priority issues on the bank’s agenda.

The SCC members heard a report on the implementation of VTB Group’s Development Strategy for 2010–2013 and made a number of proposals on the drafting and implementation of a new development strategy, which is to be adopted in 2013. 

«In the next two or three years, we should direct our resources toward enhancing business efficiency, so as to feel secure despite the financial market volatility and variable interest rate dynamics. We hope that the Shareholders Consultative Council will actively contribute to the drafting of VTB Group’s new development strategy.»
Andrey Kostin,
JSC VTB Bank President and Chairman of the Management Board

Deputy Head of the Finance Department Dmitry Pyanov reported on the Group’s financials in the first half of 2012. He said that retail business was growing especially rapidly in January-June, and moreover, that its growth potential was far from exhausted. The SCC members were offered information about the Group’s new retail project, Leto Bank, designed for mass and lower-mass segments.

The bank’s shareholders and top managers also discussed other vital issues, including VTB’s policy of investing own equity in shares, the planned reduction of the government’s stake in the bank’s charter capital, as well as the first operating results of TransCreditBank following its accession to VTB Group.

The next meeting of the Shareholders Consultative Council is scheduled for February 2013.

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