The agreement was signed by VTB Bank President and Chairman of the Management Board Andrey Kostin and China Construction Bank Chairman Wang Hongzhang.
Under this agreement, the two sides plan to promote mutually beneficial cooperation and coordinate the investment activity of the two companies. Specifically, the agreement envisages a partnership in investment and banking services.
«The agreement will not only bring relations between our banks to a new level but will also promote cooperation between our countries. China has traditionally been a strategic partner of Russia. There is great potential for the expansion of relations between our countries and I am sure that cooperation will advance successfully in many economic fields, including the banking sector.»
VTB Bank President and Chairman of the Management Board