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VTB completes reform of regional network

22 May 2013

VTB completes reform of regional network.

VTB Bank has completed the reform of its regional network that it launched in 2012 to improve the quality of customer service and consolidate its regional outlets. VTB has formed a matrix management system consisting of seven basic affiliates (in Yekaterinburg, Voronezh, Krasnoyarsk, Nizhny Novgorod, Rostov-on-Don, Stavropol and Khabarovsk), 44 regional back offices (former affiliates) and three operations support centres (OSCs) in Voronezh, Nizhny Novgorod and Ulan Ude, allowing the bank to centralise its service and operational functions.

"We are pleased to announce the completion of the main phase of the regional network reform, which was completed in record time," Deputy President and Chairman of VTB Bank Management Board Mikhail Oseevskiy said at a news conference. "We expect the reform to save us around RUB 1.1 billion a year. We have introduced a large number of innovative technologies over a very short period, which will help VTB Bank to become competitive with the leading market players in terms of network efficiency."

"The network reform has proved to be successful," said Chaba Zentai, Member of VTB Bank Management Board. "Since the launch of the reform in September 2012, the bank’s loan portfolio for medium-sized businesses has increased from RUB 136 billion to RUB 180 billion, and the network’s overall loan portfolio has increased from RUB 452 billion to RUB 596 billion. We can say with confidence that we have not lost a single client during the reform, and we plan to continue expanding our client base."

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