On 29 May, VTB management and minority shareholders held its regular meeting in Moscow. About 200 shareholders attended the meeting.
To address the shareholders was Nikolai Tsekhomsky, VTB member of the Board, who summed up the results of VTB performance for 2008 and described the Group`s strategic priorities for 2009. Also, he gave special priority to the establishment of the Consultative Council. Applications for the Council membership have been received since 1 May 2009 and the first meeting is scheduled for 30 June. Nikolai Tsekhomsky emphasized the fact that the Council is primarily targeted at enhancing the efficiency of information disclosure to the Bank shareholders and receiving constructive proposals on effective business and shareholder relations.
Afterwards, the floor was taken by the jury - Igor Belikov, Director of the Russian Institute of Directors, and Vladislav Kudinov, Chairman of the General Council of Russian Borrowers and Investors Association. They will select 30 contenders for 10 seats from all the applications. According to Igor Belikov, "Establishment of the Council is a positive step, that shows VTB`s concern about its minorities". He also mentioned the opportunities the Council provides for the shareholders and the responsibility imposed on them. As Vladislav Kudinov stated, "selected members of the Council will constantly interact with VTB management and will be able to influence many aspects of the Bank`s activity".
Then, Nikolai Tsekhomsky, Igor Belikov and Vladislav Kudinov answered the shareholders` questions.
Alexei Kravtsov, VTB24 Vice President, also met with shareholders and spoke about brokerage operations.