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VTB delegation visits the Republic of Bashkortostan

26 March 2010

On 26 March 2010, VTB delegation headed by Andrey Kostin, President and Chairman of VTB Management Board, visited Ufa.

During the meeting, Murtaza Rakhimov, President of the Republic of Bashkortostan, and VTB Head discussed bilateral relations between the bank and the government of the republic. They also outlined ways of future cooperation.

After the visit, Andrey Kostin, President and Chairman of VTB Management Board, said: “The Bank is determined to increase lending to enterprises of the Republic of Bashkortostan despite the challenging economic environment. We are planning to raise VTB’s share in Bashkortostan corporate lending to 10% in 2010. At the same time, we expect that our initiatives will be supported by the government of the republic”.

As of 1 January 2010, VTB’s corporate loan portfolio in the Republic of Bashkortostan amounted to RUB 12.2 billion. In 2009, VTB granted over RUB 9.6 billion in loans to enterprises of the region, including RUB 422 million to small business companies.


The cooperation between VTB and the Government of the Republic of Bashkortostan was launched 7 years ago after VTB opened its branch in Ufa.

13 VTB outlets currently operate in the republic, including 4 offices of VTB Bank and 9 offices of VTB24. The customer base includes more than 740 companies representing various economy sectors.

In 2008-2009, the Bank continued to increase its financial participation in the economy of the region, providing a total of RUB 26 billion in loans to local enterprises.

VTB Branch in Ufa finances programs of the region’s leading companies: JSC Ufa Engine-Building Production Association, JSC Polief, JSC Salavatnefteorgsintez, BelZAN JSC, CJSC VRZ, Meleuz Brick Plant LLC, JSC Ufa Baking Plant, JSC Amzya Timber Mill.

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