Governance Services of Standard & Poor’s confirmed the high level of VTB overall transparency and nominated it among the Top 10 leading public companies. The results are based on the annual Transparency & Disclosure Survey of 90 largest Russian public companies.
A joint study of Standard & Poor’s Governance Services and the Centre for Economic and Financial Research at the New Economic School has showed that in 2010 VTB Bank considerably enhanced its transparency in delivering information on its dividend policy, development strategy and financial reporting. VTB demonstrated one of the best results among Top 10 companies in terms of ”Ownership structure and shareholder rights” category. VTB improved transparency allowed the bank to move from the 21st to the 8th position, thus establishing as the only financial company among the leaders.
Assessment methodology applied by Standard & Poor's to public companies is based on 110 transparency criteria grouped into the following components: “Ownership structure and shareholder rights”, “Financial and operational information”, “Board and management structure and process”.
JSC VTB Bank and its subsidiaries (the VTB Group or the Group) is a leading Russian banking group, offering a wide range of banking services and products across Russia, certain CIS countries and in selected countries of Western Europe, Asia and Africa.
The Group has a network of 935 branches located across Russia, CIS and Europe. Today outside of Russia, the Group operates through five subsidiary banks located in the CIS (Armenia, Ukraine, Belarus, Azerbaijan and Kazakhstan), subsidiary bank in Georgia, five banks located in Europe (Austria, Germany, France, UK and Cyprus), one subsidiary bank and one financial company in Africa (Angola, Namibia), and an associated bank in Vietnam. VTB also has branches in India and China and a presence in Singapore and UAE through the branches of its UK investment banking subsidiary.