VTB Group

Questions and Answers

Questions related to shareholding

Does VTB24 Depositary charge any fee for keeping VTB Bank shares since IPO?

If the shares are kept in the section of the depo account opened in compliance with the "Procedure for Providing Services in the Securities and Derivatives Markets" (it is this section where the securities purchased at IPO were entered), the fee is not charged.

How can JSC VTB Bank shareholders influence the Bank's operation?

According to the Federal Law on Joint-Stock Companies and the Charter of JSC VTB Bank a superior management body of any joint-stock company is its General Shareholders Meeting. JSC VTB Bank Shareholders (VTB shareholders) can participate in the General Shareholders Meeting with the right to vote on all issues within its terms of reference.
The shareholders owning jointly at least 2% of the Bank's voting shares are eligible to:

  • put issues on the agenda of the Annual General Shareholders Meeting and nominate candidates to the Supervisory Council and Statutory Audit Commission (not exceeding the number of members of the relevant body), as well as a candidate to a single-person executive body;
  • nominate candidates to the Supervisory Council, (not exceeding the number of its members), if the proposed agenda for the extraordinary General Shareholders Meeting includes the issue of electing members of the Supervisory Council.

The shareholders (a shareholder) with a total of at least 10% of the Bank's voting shares have the right to request an extraordinary General Shareholders Meeting.

My relatives would like to become VTB shareholders. What should they do?

The Bank's shares are traded at the RTS (Russian Trade System) and the MICEX (Moscow Interbank Currency Exchange). You can purchase VTB shares from these exchanges through a brokerage agreement. For information on broking services, please call (495) 980-46-86, 8-800-200-31-39 (Russia toll-free number) or address the nearest VTB 24 office

I addressed VTB Bank and VTB 24 contact centers but didn't receive a full answer to my question. Whom in VTB Bank shall I contact for additional consultation?

All questions from shareholders and investors should be addressed to the Investor Relations Division of JSC VTB Bank by email (InvestorRelations@vtb.ru) or phone:

  • For institutional investors and analysts: +7 (495) 775-71-39, fax: +7 (495) 956-38-82;
  • For shareholders: +7 (495) 775-70-94, +7 (495) 775-70-75, fax: +7 (495) 258-49-10.

I reside in St. Petersburg. Where can I get a consultation?

In October 2008, VTB Shareholders Support Center was opened in office 40 at 29, Ul. Bolshaya Morskaya, St. Petersburg, 190000. The Center's experts are ready to provide information on any issue you are interested in.

If I want to sell JSC VTB shares today, shall I have to pay any sales tax, and if yes, then why? I have already lost some money and I haven't had profit or any other revenue?

Taxation of security transactions made by individuals is regulated by Section 2, Article 23 (Individual Income Tax) of the Russian Federation Taxation Code. According to it, the profit earned while selling securities shall be taxed at the rate of 13%. If while selling securities you didn't gain any profit (revenue), you don't have to pay the tax.

When I purchased VTB shares at IPO, why didn't I receive them in documentary form?

According to Article 16 of the Federal Law on the Securities Market, registered securities are issued in non-documentary form only. VTB shareholders are owners of non-documentary securities.

Which document certifies title to shares?

Title to VTB shares is certified by:

  1. Extract from the Bank's shareholders register, issued by the registrar CJSC TSOR CUR, located at: 23, Ul. Pravdy, Moscow, 125040, tel. (495) 787-44-83 / (499) 257-38-73 (or in its branches), if it registers VTB Shares owned by the shareholder.
  2. Statement of depo account issued by the depositary, if VTB Shares owned by the shareholder are registered in the depositary of the organization being the nominal holder of the shares.
Where are VTB ordinary shares traded?
  • at the RTS Stock Exchange;
  • at the MICEX Stock Exchange.
Who is the specialized registrar holding the register of VTB shareholders?

The specialized registrar, with whom VTB Bank made and agreement on registering VTB shareholders is Central United Registrar (closed joint-stock company).

Full and short name in the CharterCentral United Registrar (closed joint-stock company), CJSC CUR
Number of license issued by an authorized federal executive bodyNo. 10-000-1-00347 of 21.02.2008, unlimited validity
Full name, position of the HeadAnisimova Viktoria Viktorovna, Director
Location23 Ul. Pravdy, Moscow, 125040
Details of the agreement with the RegistrarAgreement on Keeping the Register of Registered Securities Holders No. 001 as of 18.07.2006
The Registrar's bank detailsKPP code 5610083568; settlement account 40702810030000001846, VTB24, Moscow; BIC 044525716; correspondent account 30101810100000000716
Postal addressP.O. Box 54, Moscow, 127137
Contact tel./fax(495) 787-44-83 / (495) 257-38-73
E-mailinfo@regcor.ru

 

CJSC CUR divisionAddressTel., fax, e-mailHead
Head office23, Ul. Pravdy, Moscow, 125040Tel./fax: (495) 787-44-83 / (495) 257-38-73 info@regcor.ru www.regcor.ruAnisimova
Viktoria Viktorovna
Branches
CJSC CUR St. Petersburg branch29 Ul. Bolshaya Morskaya, office 40, St. Petersburg, 190000Tel.: +7 (812) 329-07-75Stepanova
Nelly Evgeniyevna
CJSC CUR Orenburg branch22, Ul. Krasnoznamyonnaya, office 905, Orenburg, 460000Tel.: +7 (3532) 78-12-59Fedoruk Nataliya Yurievna
CJSC CUR Penza branch1A, Ul. Kuraeva, office 506, Penza, 440600Tel.: +7 (8412) 56-09-69Dubrovina Galina Vladimirovna
CJSC CUR Samara branch132, Ul. Galaktionovskaya, office 418, Samara, 443100Tel.: +7 (846) 337-62-24Berezhnaya Irina Ivanovna
Points of transfer agent service of JSC VTB Bank shareholders
JSC VTB Bank St. Petersburg branch30 Ul. Bolshaya Morskaya, office 151, St. Petersburg, 190000Tel.: +7 (812) 314-92-74

More information on services provided by CJSC CUR and tariffs are on the registrar's website at http://www.regcor.ru

Where is the specialized registrar located and how can I contact it?

CJSC CUR is located at: 23, Ul. Pravdy, Moscow, 125040, tel.: (495)787-44-83, (499) 257-17-00, 257-38-73. Registered persons admittance hours are from 10:00 to 14:00 on workdays. Postal address is: P.O. box 54, Moscow, 127137. CJSC CUR website is http://www.regcor.ru

I received a new passport/changed my family name and passport. Shall I submit new data to be entered into the register (kept by the specialized registrar)?

If you need to bring information of your personal account (address or other information) in conformity with the data from the ID document you currently hold (the RF passport), please, submit the following documents to the Registrar:

  • Registered Person Application with a sample signature of the securities owner. Individuals should sign the Registered Person Application in the presence of the Registrar's authorized representative or certify their signature with a notary. Please note that when filling in the application form you should specify the purpose for which it is submitted, that is "Changing personal account details".
  • Request to change personal account details of the registered person (data from this request is required for identification of the registered person and shall correspond to the previous data to be changed in the register), or
  • Documents (originals or notarized copies) certifying the fact of registered person details change (e.g. a reference from the passport office for the registered person's residence with data from the former and current passports);
  • Original copy of the current passport with a note on the former passport.

If any of the registered person's names is changed the registered person also has to provide a notarized copy of the document, certifying such change.

How shall I specify my details in the register? How can I get an extract from the register?

If you need any information on your personal account from the register, you should submit to the Registrar a Request to provide information from the register (the form is available from CJSC CUR website at www.regcor.ru) and pay for the Registrar's services on providing information from the shareholders register according to the price list (available from CJSC CUR website). The Registrar's services should be paid for by a transfer made through any bank to CJSC CUR settlement account.

To provide information from the register, please address a copy of the receipt and the Request to CJSC CUR to: P.O. box 54, Moscow, 127137.

How long does it take CJSC CUR to make operations in VTB shareholders register?

Terms for operations are defined according to Clause 10.3 of the Regulation on the Register of Registered Securities Owners, approved by decree No. 27 of the Federal Commission on Securities Market as of 2 October 1997.

Terms for operations in the register start from the date when all the required documents are submitted to the Registrar.

I am a customer of CJSC VTB24 depositary. How can I sell shares?

VTB shares can be sold at the MICEX Stock Exchange in one of the following four ways:

Way 1.

Submit an application from the personal section "Circulation of VTB shares" at www.onlinebroker.ru.

Applications can be submitted from the personal zone of the website. You will be asked to enter your login and password for security reasons.

At the main page of the website choose:

  • "Entry for customers" - for customers, who made agreements with VTB24 on broking services before applying for purchasing VTB shares and endorsed the Rules for customer services in OnlineBROKER remote access system.
  • "Entry for customers (IPO) of WEB-terminal" - for customers, who didn't make agreements with VTB24 on broking services before applying for purchasing VTB shares.

To submit applications from the personal section of the site (WEB-terminal) according to Clause 6.2 Application No. 18 to the Procedure for providing services in the securities and derivatives market, (hereinafter referred to as the "Procedure") (available at www.olb.ru or authorized offices of VTB24) you must:

  • submit a written application to any VTB24 office certifying your agreement to all conditions of using WEB-terminal to apply for VTB24 for sale of shares. Application form is available at www.onlinebroker.ru/ipo in the section "Trade operations with shares"; or
  • phone (495) 980-46-86 or 8-800-200-31-39 (Russia toll-free number) and give a relative order statement also certifying your agreement to all conditions of using WEB-terminal to apply for VTB24 for sale of shares.

Way 2.

Apply by telephone (495) 797-20-22 or 8-800-200-31-39 (Russia toll-free number)

You will have to provide the Bank's officer with the following information:

  • Full name;
  • Number of agreement (Clause 2 of the Notification);
  • Code from the code table*, which number the Bank's officer will request (protective layer must be removed from the code table);

*code table is the plastic card you receive when applying for purchasing VTB shares at IPO.

  • name of shares you want to sell (VTB Shares-001D);
  • number of share LOTS you want to sell**;

**a lot is 1 000 shares.

  • sale price for shares***;

***we recommend choosing "current market price" to shareholders with no experience of the stock market. In this case shares will be sold for existing market prices.

Shareholders with no experience of the stock market can submit limited applications according to market practice.

Way 3.

Submit a paper application.

Paper application is submitted in the form attached at Appendix 5а to the "Procedure" to VTB24 Head Office: 35, Ul. Myasnitskaya, Customer Relations Unit, Investment Department, tel.: (495) 980-46-86 or 8-800-200-31-39 (Russia toll-free number).

Way 4.

Submit an application through the Internet trading system OnlineBROKER or QUIK.

For access to Internet trading systems (granted free of charge) you have to submit application for endorsement of the Rules for customer services in remote access systems (Application 10а or 10b to the "Procedure").

Applications are accepted:

  • at CJSC VTB24 Head Office: 35, Ul. Myasnitskaya, Customer Relations Unit, Investment Department, tel.: (495) 980-46-86 or 8-800-200-31-39 (Russia toll-free number).
  • at the authorized branches. Their list is available at http://about.onlinebroker.ru/regions.asp)

When working with QUIK remote access system you will also have to register digital keys. When working with OnlineBROKER remote access system digital signature is optional.

We recommend this way to all shareholders, who want not only to sell their VTB shares, but also to use broking services offered by VTB24 to conduct active exchange transactions.

What else shall I do after submitting an application?*

Pursuant to Clause 22.12 of the Procedure, if you submit application to VTB24 in any way (other than paper application) you have to confirm submission of such application in writing.

The procedure is as follows:

On the last day of a month after the end of exchange trading and calculation, you will receive an e-mail with the file "Confirmation of applications submitted during the accounting period". You need to print this file, sign and deliver it:

  • either to the nearest VTB24 office from those listed at www.olb.ru in the section "Regional Network";
  • or to Customer Relations Unit, Investment Department at: 35, Ul. Myasnitskaya, Moscow.

If the signed confirmation has not been received, VTB reserves the right to deny the customer participation in bidding (except for deals to close positions opened earlier). Such requirements are set in compliance with FFMS regulations.

Please, also note that if you trade on stock exchange you will be e-mailed "reports on fulfilled directions for transactions" for each day, when you carried out transactions. You do not have to sign this report and submit it anywhere.

If you think that the report contains erroneous information, please, promptly phone (495) 980-46-86 or 8-800-200-31-39 (Russia toll-free number).

*only for VTB24 customers

How can I confirm in writing that I have submitted an application if there is no VTB24 office in my city?*

On the last day of a month after the end of exchange trading and calculation, you will receive an e-mail with the file "Confirmation of applications submitted in the accounting period". You need to print this file, sign it and no later the 10th day of the following month fax it to +7 (495) 980-46-87.

Original signed confirmation has to be mailed no later than the 10th day of the second month following the month, when the transaction was made, to the following address: VTB24, Customer Relations Unit, Investment Department, 35 Ul. Myasnitskaya, Moscow, 101000.

*only for CJSC VTB24 customers

What if there is no VTB24 office in the city where I'm staying?*

You can apply for transactions with the help of your code table by calling on the phones specified in the Notification you receive after application (see section "Circulation of VTB shares" - "Trade operations with shares" at www.onlinebroker.ru).

*only for CJSC VTB24 customers

How many shares can I sell?

You can sell any amount of shares you own. Please, note that according to the rules of exchange trading all applications for transactions are submitted not for the amount of shares, but for the amount of lots equaling a fixed number of shares.

Lot of VTB shares amounts to 1 000 shares.

Example: You hold 3 676 471 VTB shares.

You CAN submit an application for sale/purchase of 1 000 shares (1 lot), 58 000 shares (58 lots), 2 456 000 shares (2 456 lots), etc.

You CANNOT submit application for sale of 1 569 shares, 2 456 200 shares, etc., because such number of shares does not correspond to an integer number of lots.

If you want to sell the maximum amount of shares from your share holding you will have to divide the number of shares you own by 1 000, and the integer obtained WILL BE THE NUMBER OF LOTS YOU CAN SELL: 3 676 471 / 1 000 = 3 676 lots.

How can I sell the rest of my shares that do not constitute 1 lot (1 000 shares)?

From 04 June 2007, the MICEX Stock Exchange allows trading in incomplete lots of VTB shares from 16.00 till the close of trading on "Incomplete lots" conditions (as a rule till 17.45, but a decision can be made to prolong trading till 18.45).

Application for sale of an incomplete lot is submitted similarly to the application for ordinary session, but with compulsory indication of the number of pieces or shares. Incomplete lots can be sold by phone or by written proxy. Incomplete lots cannot be sold through a WEB-terminal or QUIK and OnlineВROKER Internet trading systems.

What happens after I submit an application? How will I learn the results?*

After submitting an application in any way you will receive a message to the e-mail, specified in the application form, with a report on transactions, including information on money available on the broker's account after the sale of shares and the number of remaining shares.

*only for CJSC VTB24 customers

How will I learn the results if I have no e-mail?*

To learn the results you can call (495) 980-46-86 or 8-800-200-31-39 or go to VTB24 Head Office: 35, Ul. Myasnitskaya, Moscow with your passport and receive the original extract from the broker report and/or statement of depo account (on request).

You can also receive a copy of the broker report for any period at any VTB24office upon presentation of your passport and the plastic code card given to you at registration for IPO. Please, note that the easiest and most modern way is to get an e-mail and submit an application on entry of the e-mail address into the application form. You can submit such application to any office of VTB24:

*only for CJSC VTB24 customers

In what section of the depo account at VTB24 depositary are my shares? Shall I have to transfer shares to the trade section of the depo account to be able to sell them?*

Shares of all customers, who submitted applications for purchase through VTB24 immediately after registration of the report on issue are entered in the trade section of the depo account. You don't need to do anything after your VTB shares have been entered in the trade section of the depo account at VTB24 Bank depositary. You can at any time sell your shares or purchase shares on the stock exchange.

*only for CJSC VTB24 customers

I would like to transfer my shares to another depositary. What shall I do?*

For depositary transactions with VTB shares (transfer to another section of the depo account, withdrawal to your account in the register or other depositary, transfer to another person, etc.), please, address:

  • VTB24 Customer Relations Unit, Investment Department (35, Ul. Myasnitskaya, Moscow);
  • one of the authorized VTB24 branches listed at www.olb.ru in the section "Regional Network".

You will have to provide your passport and the following information:

  • details of the depo account of your broker at the National Depositary Center or Depositary Clearing Company;
  • number of the agreement with the depositary you are going to transfer securities to;
  • number of the agreement of the depositary you are going to transfer securities to with a higher depositary (such information is available at the depositary you plan to withdraw your securities to).

For reference, please, inform your depositary that VTB shares you hold are entered in the fiduciary account of VTB24 at the National Depositary Center.

*only for CJSC VTB24 customers

Where can I find information on VTB shares quotes?*

Information on the current price of shares is regularly published at www.vtb.ru and olb.ru, in business media, bulletins of trade organizers, as well as on specialized web-sites and web-sites of stock exchanges (www.rts.ru, www.micex.ru). You can also receive information on the current share price or get a consultation on their sale from your broker.

*only for CJSC VTB24 customers

How can I sell shares?*

You can trade in shares using broking services of VTB24. All accounts required for trading are opened during preparation to purchasing VTB shares. Information on the terms and conditions for broking services provided by VTB24 is available at www.olb.ru.

*only for CJSC VTB24 customers

Do I have to pay any commission when I sell shares?

Yes, you do (subject to broking services agreement).

According to the Investor price schedule the commission is 0.08% of the transaction amount (Bank commission) and 0.01% of the transaction amount (Exchange commission). The price plan is indicated in the Application for service at the securities market (if you haven't submitted a request to change the price schedule).
Detailed information on prices for broking and depositary services is available at www.olb.ru.

*only for CJSC VTB24 customers

How will I know the number of shares I bought?*

After the end of subscription each investor receives a letter with notification on the number of shares he owns and a confirmation of their entry in his depo account. Letters were sent on 16 June 2007.

Moreover, the following variants are provided:

  • You can follow the state of your broker's account at VTB24 or learn the number of shares you bought by using "Entry for customers (IPO) of WEB-terminal" at www.olb.ru with login and password indicated on the special plastic card you receive from the teller when registering your application.
  • You can also receive a copy of the broker report for any period at any VTB24 office upon presentation of your passport and the plastic code card given to you at registration for IPO.
  • By phone: (495) 980-46-86 or 8-800-200-31-39 (Russia toll-free number).

In this case you will have to tell the Bank's officer your full name, number of agreement and one of the codes from the identification card given to you when your account is registered (the Bank's officer will request the code number).

  • Go to VTB24 Head Office: 35, Ul. Myasnitskaya, Moscow with your passport and receive the original extract from the broker report and/or statement of depo account (on request).

Please, also note that if you traded in shares during the day, you will be e-mailed your broker's report on carried out transactions on the next day.

*only for CJSC VTB24 customers

Can I purchase VTB shares on the stock exchange and use Internet trading to purchase and sell them?*

Yes. Trading in ordinary VTB shares on the RTS (Russian Trading System) and the MICEX (Moscow Interbank Currency Exchange) stock exchanges started on 28 May 2007. You can purchase VTB shares using VTB24 broking services. Internet trading is also available.

For access to Internet trading systems (granted free of charge) you have to submit the application for endorsement of the Rules for customer services in remote access systems (Appendix 10а or 10b to the "Procedure for providing services in the securities and derivatives market" available at www.olb.ru).

Applications are accepted at VTB24 Head Office, Customer Relations Unit, Investment Department (35, Ul. Myasnitskaya, Moscow, tel.: (495) 980-46-86 or 8-800-200-31-39 (Russia toll-free number), or any authorized branch.

When working with QUIK remote access system you will also have to register digital keys. When working with OnlineBROKER remote access system digital signature is optional.

*only for CJSC VTB24 customers

Where can I get information on depositary transfers, funds withdrawal and access to the personal section at www.onlinebroker.ru (WEB-terminal)?*

For information on non-trading operations, please call (495) 980-46-86.

8-800-200-31-39 (Russia toll-free number).

*only for CJSC VTB24 customers

I am a customer of VTB24. How can I transfer funds from the broker's account to my bank account (current)?

The order to transfer funds can be given in the following ways:

  • By phone: (495) 980-46-86, 8-800-200-31-39 (Russia toll-free number)

Note! By phone you can give order to withdraw funds from the broker's account only to your bank account opened with VTB24 and specified in the customer's form attached to the broking services agreement (when you apply for purchasing VTB shares at IPO).

When making order by phone provide the Bank's officer with the following information:

    • Full name;
    • Number of agreement (Clause 2 of the Notification given to you when you apply for VTB IPO);
    • Code from the code table*, which number the Bank's officer will request (protective layer must be removed from the code table);

*Code table is a plastic card given to you when you applied for purchasing VTB shares at the initial public offering (IPO).

    • Number of your personal account to make settlements on securities transactions (Clause 1 of the Notification given to you when you apply for VTB IPO)*;

*the so called "306th" or "broker's" account.

    • Number of your personal account in VTB24 that you specified (or opened) when you applied for purchasing VTB shares at IPO (account details specified in your copy of the Application to the current account);
    • Amount of money you want to withdraw from the broker's account to the current account (possibly in the amount of clear balance. In that case all money from the broker's account will be withdrawn).
  • By a personal visit to VTB24 office (giving order in paper form).

With your order in the form of Appendix 6 to the Procedure you can withdraw the funds from your broker's account to any bank account opened to you, also with the other bank.

The order must:

  • be sent to VTB24, Customer Relations Unit, Investment Department at 35б Myasnitskaya Ul., room 542, Moscow, 101000. The Order to withdraw funds shall be notarized;
  • or handed and signed in the presence of the Bank's officer from the Customer Relations, Investment Department or any  office of VTB24.

Please, note that when funds are withdrawn from VTB 24, income tax is calculated and collected.

What shall I do if I didn't obtain the code table (card with passwords)?

You should contact the office where you made the first application for purchasing VTB shares and obtain the card. If the office is no longer working, contact another nearest office after coordinating all the required steps by phone: (495) 980-46-86, 8-800-200-31-39 (Russia toll-free number). You should have passport and Application for servicing in the securities market with you.

*only for CJSC VTB24 customers

Can I purchase VTB shares if I am not the Russian resident?*

A resident of any country can make transactions with any securities (not only VTB shares) provided that he/she submitted all the necessary documents to VTB24 when applying for broking services.

For information on broking services, please call (495) 980-46-86 or 8-800-200-31-39 (Russian toll-free number) or contact the nearest office of VTB24. More information on VTB24 offices is available at www.olb.ru in the section "Regional Network".

*only for CJSC VTB24 customers

How shall I use the card with passwords

When you phone to VTB24 to make any order statement (to make a deal, withdraw the funds, etc.) for your identification you will be asked to say one of the codes, stated on the card. While operating through WEB-terminal, LOGIN and PASSWORD are requested (to protect against compromise the password must be changed by the user at his first apply to WEB-terminal). The codes stated on the card are also requested to apply for deals through WEB-terminal.

*only for CJSC VTB24 customers

What is the document regulating the relations between VTB24 Depositary and the Depositor?*

These are Depositary Standards available from VTB24 website at www.vtb24.ru.

*only for CJSC VTB24 customers

Can I place VTB shares into trust management?

You should ask your trust manager about the terms of placing securities into trust management.

I have received the Application but have no Depositary Agreement.*

Depositary Agreement is made through simple acceptance of VTB24 Depositary Standards (hereinafter referred to as the "Standards") according to Article 428 of the Civil Code of the Russian Federation. Acceptance of the Standards by corporate and individuals (conclusion of the Agreement) is made by submitting to the Depositary two copies of Applications in the form attached at Appendix 1 to the Standards. The agreement is deemed entered into from the moment when the Depositary makes in each of the two copies notes with information on the depo account, the agreement number, the relevant depo account, date, signature of the authorized person and stamp of the Depositary. Such form of agreement relations is stipulated by Article 428 of the Civil Code of the Russian Federation.

*only for CJSC VTB24 customers

Can I change the Application after submitting it?*

Changes and additions to the Application submitted to the Depositary are prohibited. If any changes are to be made to the Application, a new Application shall be provided (Appendix 2 to the Standards, Form 1) and a Request to change the details provided in the Application (Appendix 2 to the Standards, Form 6). The above documents can be formalized at any VTB24 office.

*only for CJSC VTB24 customers

What if my details change?*

You should contact any office of VTB24 to formalize documents required to change details for broking and depositary services. You can also fill in a Request to change the details provided in the Application (Appendix 2 to the Depositary Standards of CJSC VTB24, Form 6), a new Individual Depositor Application (Appendix 2 to the Depositary Standards of CJSC VTB24, Form 1) and mail these documents to the Bank. Please, note that you have to notarize your signature.

*only for CJSC VTB24 customers

One of my names changed. What documents besides the Request to change details and a new Application should be provided to the Depositary?*

You should additionally provide a notarized copy of a name change certificate or a notarized copy of your marriage certificate if your name changed due to marriage (divorce) and present your new passport.

*only for CJSC VTB24 customers

What is the term of the Depositary Agreement?*

The Depositary agreement remains in force until its termination on the initiative of one of the parties. The relations are deemed terminated after the depo account has been closed and all settlements between the parties have been made. When the relations are terminated, the Depositor has to transfer securities from his depo account at the Bank's Depositary to another depositary or registration system.

*only for CJSC VTB24 customers

Can I submit simple copies of documents to the Depositary?*

Only notarized copies shall be submitted to the Depositary.

*only for CJSC VTB24 customers.

I would like to receive dividends to another settlement account.*

You should contact any office of VTB24 to formalize documents required to change details for broking and depositary services. You can also fill in a Request to change the details provided in the Application (Appendix 2 to the Depositary Standards of CJSC VTB24, Form 6), a new Individual Depositor Application (Appendix 2 to the Depositary Standards of CJSC VTB24, Form 1) and mail these documents to the Bank. Please, note that you have to notarize your signature.

*only for CJSC VTB24 customers.

Questions on the General Shareholders Meeting

When are General Shareholders Meetings held?

According to the Federal Law on Joint-Stock Companies No. 208-FZ as of 26 December 2005, the Annual General Shareholders Meeting of JSC VTB Bank must be held between 1 March and 30 June, following the reporting period.

Who may call Extraordinary Shareholders Meetings?

Extraordinary Shareholders Meetings may be called:

  • at the request of the Statutory Audit Commission;
  • at the request of the Bank`s Independent Auditor;
  • at the request of shareholders (shareholder) owning at least 10 per cent of VTB voting shares;
  • by the Supervisory Council.
How does VTB Bank inform its shareholders on the Annual General Shareholders Meeting?

VTB informs the shareholders at least 30 calendar days prior to the General Shareholders Meeting, unless legislation provides for a longer term.

The Bank duly sends by registered mail a written notice to each person on the List of people entitled to participate in the General Shareholders Meeting. VTB Bank also distributes such notice through news agencies and VTB Bank website (www.vtb.ru) in the section "For Shareholders and Investors".

Where is the Annual General Shareholders Meeting usually held?

According to the Federal Law on Joint-Stock Companies and the Charter of JSC VTB Bank, the Bank`s Supervisory Council decides where the Annual General Shareholders Meeting is to be held.
There is no strictly defined venue for the Annual General Shareholders Meeting.

Can minority shareholders nominate their candidate to the Supervisory Council?

According to Articles 53 and 66 of the Federal Law on Joint-Stock Companies, members of the Supervisory Council are elected by the General Shareholders Meeting from candidates nominated by shareholders (a shareholder) jointly owning at least 2% of VTB voting shares. Thus, shareholders jointly owning at least 2% of the voting shares are eligible to nominate their candidate to the Supervisory Council according to the procedure provided by the applicable legislation. The nominated candidate will be listed among candidates for election to the Supervisory Council. Candidates, who receive most votes at the General Shareholders Meeting, are considered elected members of the Supervisory Council.

How were the shareholders informed of the voting results at the Annual General Shareholders Meeting?

According to Article 62 of the Federal Law on Joint-Stock Companies, a report on the voting results at the Annual General Shareholders Meeting of VTB Bank held on 26 June 2008 was sent by registered mail to each person on the List of people entitled to participate in the General Shareholders Meeting.

The report is also available from the section "For Shareholders and Investors" at VTB Bank website.

I haven't received voting results from the Annual General Shareholders Meeting. Why?

The report on the voting results at the Annual General Shareholders Meeting held on 26 June 2008 was sent by registered mail to each person on the List of people entitled to participate in the General Shareholders Meeting according to the mailing details provided by registered shareholders and the registrar when drawing up the above List. The reason most probably lies in incorrect or incomplete mailing details. To find out what's wrong, please contact the Investor Relations Division of JSC VTB Bank: (495) 775-70-94, 775-70-75, or specify your mailing details where your shares were registered.

Questions on dividends

What are dividends?

Dividends are part of the Bank`s profit for the fiscal year divided between shareholders pro rata to the number of shares they hold.
Dividends are paid from the Bank`s net profit for the fiscal year indicated in the profit and loss statement of VTB Bank prepared under RAS on the fiscal year`s results.

On what shares were the dividends paid and what was their amount in the last 6 years?
Payment yearsFor the yearOrdinary dividendsTotal dividends paidAmount of dividends paid in
  RUBRUB (bln)% of net profit
2003200237.981.617.4
2004200337.981.617.9
2005200440.51.717.9
2006200532.751.713.2
200720060.000663.420
200820070.001349.0150.12
Who decides on dividend payment?

Decisions on dividend payment and the form of payment are made by the Annual General Shareholders Meeting according to the procedure stipulated in the Federal Law on Joint-Stock Companies.

Who is eligible for dividend payment?

People eligible for dividend payment are shareholders included in the Bank`s Nominal Shareholders Register as of the date, when the List of people entitled to participate in the General Shareholders Meeting is compiled.

How is the amount of dividends receivable by VTB Bank shareholders calculated?

The amount of dividends receivable by shareholders is calculated by multiplying the number of shares owned by dividend amount per share, less dividend tax. The tax base of resident shareholders (corporates and individuals) is reduced by the dividend profit gained by the Bank over the reporting period (pro rata to the shareholder's share in registered capital). The Bank as a fiscal agent calculates and deducts tax from dividend receivable by a shareholder according to the applicable Russian legislation.

I bought shares at IPO in May 2007. Have I earned dividends for 2007 and how much?

In 2008, dividends on the results of the Bank`s performance in 2007 were paid to persons, who owned shares as of the date when the List of people entitled to participate in the Annual General Shareholders Meeting held on 7 May 2008 in the amount of RUB 0.00134 per one registered ordinary VTB share.

When were the dividends on VTB shares paid?

Under the decision of the Annual General Shareholders Meeting of 26 June 2008, the dividends were paid within 60 (sixty) days after the decision made.

What was the amount of dividends on VTB shares for 2007 paid?

The Annual General Shareholders Meeting of JSC VTB Bank held on 26 June 2008 decided to pay dividends on the results of 2007 in the amount of RUB 0.00134 per one registered ordinary VTB share.

What shall I do, if I haven't managed to receive dividends within the set term?

Shareholders can receive dividends even after expiration of the term set for payment.

Do all shareholders receive the same dividends?

All shares issued by VTB are registered ordinary shares. The dividend amount per each ordinary share is the same for all shareholders.

Does the share price affect the dividend amount?

The share price doesn`t affect the amount of dividends.

When I receive dividends, can I immediately buy new shares for them?

Dividends are paid in cash and, if the General Shareholders Meeting decides so, in other assets. Under the decision of the Annual General Shareholders Meeting of 26 June 2008, dividends on 2007 results were paid in cash. You have the right to use these assets at your own discretion. Thus, you may also buy VTB shares, but on the secondary market, using broking services of VTB24 (tel. (495) 980-46-86 or 8-800-200-31-39 (Russia toll-free number)

How are dividends paid?

Subject to the decision of the Annual General Shareholders Meeting dividends on 2007 results are paid by non-cash transfers to shareholders' bank accounts or in cash at VTB Bank branch in St. Petersburg (30, Ul. Bolshaya Morskaya, St. Petersburg) according to the form chosen in the Registered Person Application or information provided by nominal holders. Shareholders registering their rights to VTB shares with VTB24 Depositary can receive dividends only by a non-cash transfer to their bank account with payment details submitted by them to VTB24 for broking/depositary services.

What account are dividends transferred to?

If the shareholder keeps his/her shares in VTB Bank Shareholders Register, dividends are transferred to payment details specified in the Registered Person Application filled in when opening a shareholder account or changing payment details at the Registrar.

If the shareholder keeps his/her shares on a nominal holder depo account, dividends are transferred subject to the details specified by nominal holders for the list of people entitled to receive dividends. 

What tax benefits for non-residents are applicable to dividend taxation?

As for Russian non-resident individuals, a lower tax rate can be applied to dividend income, if there is a relative agreement between Russia and the country of residence of such shareholder.
Corporates (both resident and not-resident) are eligible to tax benefits upon submission of documents proving their right thereto.

Do shareholders have to pay income tax on dividends received?

According to Section 2, Article 214 of the Russian Federation Taxation Code, VTB Bank as a fiscal agent calculated and deducted the tax on dividends paid to shareholders according to the applicable Russian legislation.

What tax amount was deducted?

The amount of tax deducted is calculated for each taxpayer at an individual rate and under the procedure established by the Russian Federation Taxation Code:

  • 9% is the dividend income tax rate for the Russian resident individuals;
  • 15 % is the rate for the Russian non-resident individuals;
  • 9% is the dividend income tax rate for the Russian resident corporates; and
  • 15 % is the rate for the Russian non-resident corporates.

Dividends of foreign corporates, being residents of countries entered into the agreement with the Russian Federation to avoid double taxation can be either exempted from tax or taxed at a lower rate.

I purchased VTB shares at IPO and registered them in VTB24. Where can I receive dividends?

Dividends will be transferred to the bank account with payment details specified by you and submitted to VTB24 for broking/depositary services. You can withdraw funds under the established procedure.

How can I receive an Individual Dividend Income Certificate according to Individual Income Tax Form 2?

To receive such document, please mail an application to the following address: General Accounting Department (37, Ul. Plyushchikha, Moscow, 119121). A sample application form is available from the Bank's website in the section "For Shareholders and Investors".

I was a shareholder as of the date, when the list of persons entitled to dividends was drawn up, but I haven't received any dividend so far.

The most probable reason is that there is either an incorrect or incomplete data in your profile (i.e. bank account details, or TIN). In this case, you should contact the Investor Relations Division of VTB Bank on (495) 775-70-94, 775-70-75.

Contact Information

For general information and enquiries:

+7 (800) 200-77-99

+7 (495) 739-77-99


Ask us a question

For institutional investors and analysts:

+7 (495) 775-71-39

+7 (495) 956-38-82 (fax)

InvestorRelations@vtb.ru

For individual shareholders:

+7 (495) 258-49-47

+7 (495) 258-49-10 (fax)

Shareholders@vtb.ru

Consultative council of shareholders:

+7 (985) 774-31-55

KSA@vtb.ru

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