21/05/2007 The London Stock Exchange is delighted to welcome JSC VTB Bank to the Main Market.
21 May 2007
The London Stock Exchange is delighted to welcome JSC VTB Bank to the Main Market.
VTB is a leading Russian universal banking group offering a wide range of banking services and products across Russia, certain CIS countries and selected countries in Western Europe, Asia and Africa. VTB is focused on providing banking products and services to Russian and CIS clients through its domestic and foreign operations and to foreign clients doing business primarily related to, or in, Russia and the CIS through its foreign banking subsidiaries and representative offices.
VTB is the 2000th global listing of depositary receipts, and was 211 times over-subscribed.
VTB was established in 1990 as the Bank for Foreign Trade of the Russian Federation. Since that time, VTB has, through organic expansion and selected acquisitions, transformed itself into a universal banking group with a strong presence in Russia and an expanding presence in the CIS and elsewhere.
The VTB Group has three principal areas of business:
Corporate banking, which provides a broad range of commercial banking services and products, including corporate lending, foreign trade transactions, syndicated loans, deposit and settlement services, as well as custody services to large and medium-sized corporations and financial institutions;
Retail banking, which provides financial services, including deposit accounts, lending and certain ancillary services, to individuals and small-sized corporations; and
- Investment banking, which provides debt capital markets underwriting, project financing and advisory services, merger and acquisition financing and advisory services, portfolio management services and also manages the Group’s proprietary trading activities.
Commenting on the Company’s listing, Nikolay Tsekhomsky, Senior Vice President and Chief Financial Offer of JSC VTB Bank said:
“This is a very exciting development for our company. Through the London Stock Exchange we reach out to international markets and introduce investors from all over the world to our company and to the Russian banking sector. We intend to realise this sector’s potential for the benefit of our shareholders in the coming years.”