VTB Group is exposed to currency risk through mismatch in the currency denomination of assets and liabilities and also through currency positions from transactions in foreign currencies. As the Russian Rouble is the functional currency of VTB, fluctuations in foreign currencies relative to the Russian Rouble could impact VTB's financial position and results of operation. VTB manages its currency exposure risk by seeking to match the currency of its assets with that of its liabilities on a currency-by-currency basis within certain limits. The ALCO reviews the currency position and sets open currency position limits, which are monitored on a daily basis.

OJSC VTB Bank [Russia, India, China]
