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The 2011 Annual General Shareholders Meeting held in Moscow

3 June 2011

the Annual General Meeting of JSC VTB Bank’s shareholders

On 03 June 2011, the Annual General Meeting of JSC VTB Bank’s shareholders (the “AGM”) was convened at the Russia State Concert Hall, Moscow. The meeting was chaired by  Alexey Ulyukaev, First Deputy Chairman of the Bank of Russia and member of VTB Bank Supervisory Board. 733 VTB shareholders and their representatives attended the meeting.

The shareholders participated in discussing and voting on the following issues on the agenda:

  1. Approval of JSC VTB Bank Annual Report.
  2. Approval of JSC VTB Bank Annual Financial Statements including Profit and Loss Statement (JSC VTB Bank Profit and Loss Account).
  3. Approval of JSC VTB Bank profit allocation for the year 2010.
  4. Amount, time and form of dividend payments for 2010.
  5. Remuneration payment to the Supervisory Board members who are not state employees, in compliance with JSC VTB Bank by-laws.
  6. Approval of the number of JSC VTB Bank Supervisory Board members.
  7. Election of JSC VTB Bank Supervisory Board members.
  8. Approval of the number of JSC VTB Bank Statutory Audit Commission members.
  9. Election of JSC VTB Bank Statutory Audit Commission members.
  10. Approval of JSC VTB Bank’s Auditor.
  11. Approval of the new edition of JSC VTB Bank Charter.
  12. Approval of the new edition of the Regulation on JSC VTB Bank Supervisory Board.
  13. JSC VTB Bank membership in the Russian Union of Industrialists and Entrepreneurs.
  14. Approval of interested party transactions to be entered into by JSC VTB Bank during its standard commercial business.

Addressing the shareholders were Andrey Kostin, President and Chairman of the Management Board, Vasily Titov, First Deputy President and Chairman of the Management Board, Herbert Moos, Deputy President and Chairman of the Management Board, Andrey Puchkov, Deputy President and Chairman of the Management Board, and Olga Avdeeva, Chief Accountant.

Andrey Kostin emphasized that “the last year performance proves the efficiency of the ongoing strategy of sustainable growth and enhanced business structure, which has been gradually promoting the Group’s market capitalization and its financial stability. As a result, our net profit in 2010, under IFRS, has hit a record of RUB 54.8 bln. Net commission income has doubled, while the operating costs have decreased. Our assets and capital efficiency have grown due to consolidation of TransCreditBank. In 2011, we are also expecting the Group’s net profit to reach no less than RUB 80 bln.”

The results of voting under the AGM agenda will be published within the time frames set by the legislation.

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