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VTB Group starts precious metal exports to India

27 November 2013

VTB Group starts precious metal exports to India ©

VTB has become the first Russian bank to start direct exports of precious metals to clients in India, delivering its first batches of gold and silver bullion to clients. India is the world’s largest importer of precious metals.

VTB plans to enter emerging precious metals markets in Asia, and to work with local government-certified importers, banks and end consumers. The first bullion was successfully delivered to New Delhi, Hyderabad, Jaipur and Agra.

VTB Bank has been active on the Russian and international precious metals markets for many years and is seeking to expand its business in the Asia-Pacific region.

«Geographical diversification is one of VTB Group’s development priorities. Precious metals supplies to India will help attract new international clients, as well as increase our Indian unit’s trade finance and transaction business.»
Yuri Soloviev,
First Deputy President and Chairman of VTB Bank Management Board

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