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VTB North-West Supervisory Board holds its meeting

19 January 2011
On 19 January, VTB Bank North-West Supervisory Board held its meeting in Saint-Petersburg. The session was dedicated to preliminary results of the 2010 business plan performance.
The growth rate of VTB Bank North-West’s credit portfolio for the 12 months of 2010 was 14%. Total loans issued by the bank in 2010 amounted to RUB 332.1 billion, growing 24% year-on-year. Corporate deposits (net of financial market funds) increased 5.4%.
The Supervisory Board also discussed the procedure of merging VTB Bank North-West into JSC VTB Bank. The project is expected to be completed before the end of Q1’2011. Currently, VTB North-West is being transformed into VTB North-West Regional Center, a structural unit of the Head Office with extended functions.
The Supervisory Board decided to appoint Denis Bortnikov, First Deputy Chairman of VTB North-West, to the position of Chairman from 1 February 2011.
In the meanwhile VTB management nominated Dmitriy Olunin, Chairman of VTB North-West on the position of First Deputy President of TransCreditBank.

For reference:
Denis Bortnikov was born on 19 November 1974. He graduated from St. Petersburg University of Economics and Finance with a degree in national economics. From 1996 to 2004, Mr. Bortnikov worked for JSC Promstroybank (in June 2007 it was renamed JSC VTB Bank North-West). From 2004 Mr. Bortnikov held the position of Advisor to Manager of JSC GUTA-BANK North-West Branch. In 2005, Mr.Bortnikov worked as Deputy Manager of CJSC Vneshtorgbank Retail Financial Services. In 2006, he held the position of Deputy Manager of VTB Bank St. Petersburg Branch. In November 2007, he was appointed Deputy Chairman of the Management Board of VTB Bank North-West and promoted to First Deputy Chairman of the Management Board of VTB Bank North-West in August 2010.

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