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VTB Shareholders Consultative Council holds its 5th meeting

25 March 2010

On 25 March 2010, VTB Shareholders Consultative Council (SCC) held its regular meeting. The session was attended by Grigory Glazkov and Mikhail Eskindarov, members of the Supervisory Council, and Ekaterina Petelina, member of VTB Management Board.

The meeting’s agenda included key parameters of VTB Group’s new 3-year retail business development strategy. This strategy implies building retail business on a larger scale through aggressive market share expansion, improvement of customer service speed and quality, and development of remote service channels.

“Since its establishment, VTB has been successful in implementing its growth strategy. It took the bank three years to become the second largest player in Russian retail after it was launched almost from scratch. Our new objectives are to adopt a new, segment-oriented approach in customer service, strengthen our distribution network using alternative channels, and improve business efficiency and service quality”, Ekaterina Petelina said.

The results of the SCC direct hotline launch, the outcome of the Open Day held by the Council for shareholders, and the interaction between members of the Council with heads of other structural units of the Bank, were also discussed at the session.

The Council also resolved to hold a meeting of the SCC in St. Petersburg to promote productive cooperation between VTB Bank shareholders.

For reference:

VTB Shareholders Consultative Council is an independent body established in 2009 at the initiative of VTB Bank minority shareholders. The Council consists of 10 members proposed by the independent jury and elected by voting. Vladimir Tarachev, Co-chairman of the Consumers Union of Russia, heads the Consultative Council. The first meeting of the Council was held on 30 July 2009.

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