On 19 February 2011, VTB Shareholders’ Consultative Council held its first meeting of those scheduled for this year with the Bank’s minorities. The meeting was a part of the federal program initiated by the Russian Council of Borrowers and Depositors (the “RCBD”) and was attended by about a hundred of VTB shareholders.
Addressing the shareholders were Valery Kardashov, head of the RCBD project, Vladimir Tarachev, Chairman of the Consultative Council, and representatives of VTB24 Investment Department. The speakers shared with the shareholders the secrets of private fund management in the securities market, gave recommendations as to mitigating investment risks related to shares and told about most efficient approaches to building private investment portfolio.
Ekaterina Petelina, a member of JSC VTB Bank Management Board, also participated in the meeting through a video-conference. She spoke of the results gained in implementing VTB Group development strategy and answered the shareholders’ questions.
Citing Vladimir Tarachev, “The Council is a kind of bridge between the Bank’s shareholders and management. We duly tell the Russian minorities about the Bank’s work and its specifics. When meeting VTB shareholders, we try to answer all their questions, thus enhancing their financial literacy. After such meetings our shareholders feel safer about their investments.”
Recognizing the importance of such meetings between the minority shareholders and VTB executives, the Bank has scheduled 8 meetings for 2011, which will primarily be held in the regions where at least 1,000 shareholders of the Bank reside.