Bank of Moscow Belgrade, part of VTB Group, has been renamed VTB Bank Belgrade, following a decision made by the lender’s shareholder meeting on 30 August 2013.
The corresponding changes will be made shortly in Serbia’s corporate register and the bank’s statutory documents.
VTB’s Supervisory Council made the decision to acquire 100% of Bank of Moscow Belgrade on 15 April 2013. The sale was finalised in May. The lender is currently being integrated into VTB Group and is introducing VTB standards for all lines of business.
«In the medium term, we see VTB Bank Belgrade as the main financial institution serving joint Russian-Serbian projects. We have tasked the bank with enhancing cooperation with large companies, as well as developing cross-sales in the SME and retail banking segments.»
Head of the Financial Subsidiaries Division
Bank of Moscow Belgrade was established in 2008 and became part of VTB Group in May 2013. The lender operates through its head office as well as two branch offices, in Novi Sad and Belgrade. The bank serves major Serbian and Russian companies, SMEs, individual clients, and is involved in cross-border deals extending loans to Serbian companies.