On 26 August 2011, JSC VTB Bank together with the Union of Borrowers and Depositors of Russia (the “UBD”) and VTB Shareholders Consultative Council (the “SCC”) held a workshop for VTB shareholders located in the Volgograd Region. The main issue of the meeting was efficient private finance management in the securities market.
Among the participants of the workshop were representatives of VTB Group: Alexey Kravtsov, VTB24 Vice President, Olga Yurtchik, Deputy General Manager of VTB Bank Branch in Volgograd, Maxim Golovin, Head of VTB Insurance regional division, Vladimir Tarachev and Dmitry Udalov, members of VTB SCC, and Andrey Gorbanov, Head of UBD regional division.
Meetings like this are regularly held in the regions with a large number of VTB shareholders. Vladimir Tarachev emphasized that Volgograd was the sixth city after Moscow, Yekaterinburg, Ufa, Voronezh and Novosibirsk. The meeting was attended by more than 160 shareholders. Overall, about 2,600 of VTB Bank minority shareholders live in the Volgograd Region.
The major task of such meetings is to increase financial awareness of the shareholders. Alexey Kravtsov told about possible transactions in VTB shares, broker services, and the key terms used in stock exchange trading.
Olga Yurtchik spoke about the performance of VTB Branch in Volgograd, the Bank’s contribution to the regional economy and its cooperation with enterprises of Volgograd. Of special importance for the shareholders was information about VTB Group growth strategy being implemented to enhance the Bank’s returns and increase its share value.
By personally addressing VTB Group representatives, the shareholders could get answers to all questions they had and share their opinions as to further interaction of the Bank with its minorities.
"We should enhance financial awareness of households, and the Bank’s shareholders should take the lead and be equipped with all the necessary information, said Dmitry Udalov.
In conclusion, Olga Yurtchik reassured the shareholders that VTB Bank would continue to work with its shareholders and customers to further enhance transparency and partnership.
The following meeting is to take place this September in Krasnodar.
VTB Shareholders Consultative Council was established in 2009 to enhance information exchange with JSC VTB Bank shareholders. Each shareholder was entitled to vote and be elected to the Council. An independent jury elected 10 members of the Council out of 186 nominees.
The Union of Borrowers and Depositors of Russia is a public organization founded to unite Russian citizens who have obtained loans from or deposited funds into various financial institutions. The Union was registered in July 2007. Its main goals are to improve financial awareness of the nation, protect the interests of borrowers and depositors, provide accurate information on banks and other financial and lending institutions, and help protect against financial fraud.
In 2010, the UBD together with VTB SCC launched a joint project aimed at enhancing the nation’s financial awareness. A number of meetings with VTB minority shareholders have already taken place in Moscow, Yekaterinburg, Ufa, Voronezh and Novosibirsk. These events included reports of UBD and VTB24 representatives and dialogs between shareholders, JSC VTB Bank management and members of the Council. Taking into account the relevance of such events, 4 more meetings have been scheduled for 2011.