On 21 November 2011, Gostiny Dvor hosted the grand award ceremony of the national business contest Company of the Year 2011. VTB Bank won the prize as the Bank of the Year for the second time. The ceremony was attended by representatives of the professional community, business as well as prominent social and political figures of the nation.
VTB Group enjoys record high financial results which illustrate confident business development of the Bank and its subsidiaries
VTB Bank President and Chairman of the Management Board
The award marks achievements of highly efficient Russian companies which combine stability and rapid development, stick to corporate policy open to foreign investors and operate in compliance with international standards of financial and informational transparency. The main goal of the Company of the Year contest is to create a positive image of Russian business both on domestic market and globally.
The prizewinners are selected by the expert council which includes top managers of leading Russian companies, representatives of political, social and art organizations, as well as heads of mass media companies and large universities.
At the award ceremony Andrey Kostin, VTB Bank President and Chairman of the Management Board, said: “I am glad that the Bank’s activity has received high recognition. This year was very important for us due to a variety of large and significant changes within VTB. In February, a 10% stake in VTB was privatized, generating RUB 95 billion profit for the government. Two new companies, TransCreditBank and Bank of Moscow, joined VTB Group. At the same time, VTB Group enjoys record high financial results which illustrate confident business development of the Bank and its subsidiaries.”
Annual national award Company of the Year was established in late 1990s. It has proven to be a public institution which not merely makes an example of best performing companies, but also creates a new image of the Russian business and promotes the latest business ethics standards in the country. The goal of the national award Company of the Year is to attract investments into the Russian economy, help the prizewinners to expand their business, improve their reputation and competitiveness both in Russian and international markets. Since 2002, the award has been given under the auspices of the Ministry of Economic Development and Trade of the Russian Federation and its prizewinners have been granted the status of priority investment projects. The award was established by RosBusinessConsulting group of companies.