28th Jan 2016 16:43
JSC VTB Bank / MiscellaneousVTB establishes Post Bank 28-Jan-2016 / 17:43 CET/CESTDissemination of a Regulatory Announcement, transmitted by EquityStory.RS,LLC - a company of EQS Group AG.The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Press releaseJanuary 28, 2016 VTB establishes Post Bank Russian Post and VTB24 have signed documents agreeing to the establishmentof a new retail bank, Post Bank. The signing ceremony was attended byRussian Post Director General Dmitry Strashnov and VTB24 President andChairman of the Board, Mikhail Zadornov. Russia's postal service purchased 50 percent minus one share of the futurePost Bank and the transaction was approved by the Central Bank, FederalAntimonopoly Service and Ministry of Communications and Mass Media. Russian Post Director General Dmitry Strashnov said: 'The establishment of Post Bank is a milestone not just for Russian Postand VTB, but for the entire country. The first attempts to create a Russianpost bank were made over 15 years ago,' Mr. Strashnov said. 'Post Bank willimprove access to financial services for people throughout Russia, attractcapital to the national economy and tighten competition in the financialservices market.' VTB24 President and Chairman of the Board, Mikhail Zadornov said: 'VTB Group has unique experience in retail banking. It took just a matterof years to make VTB24 - the second best retail bank in Russia -profitable, and even less time for Leto Bank. Leto Bank was subsequentlyused as the framework for the establishment of Post Bank.' 'Russian Post has the country's largest network of offices and holds yearsof experience providing financial services. Post bank will build on thisexperience whilst providing a modern format. VTB Group has the opportunityto considerably grow its client base and expand the number of its officesseveral times over, while Russian Post will bring in additional funding forthe modernisation and further development of its infrastructure,' Post Bank has been established using the framework of Leto Bank, a VTB24subsidiary. The new bank will be headed by former President and BoardChairman of Leto Bank Dmitry Rudenko. The Supervisory Board of Post Bankwill be comprised of representatives from Russian Post, VTB Group and theMinistry of Communications and Mass Media. The first Post Bank offices will open in the first quarter of 2016. Withinthree years, the new bank is planned to have over 20,000 outlets at 15,000Russian Post offices. Of these, at least 6,500 outlets will open at 3,500post offices in 2016. --------------------------------------------------------------------------- 28-Jan-2016 The EquityStory.RS, LLC Distribution Services include RegulatoryAnnouncements, Financial/Corporate News and Press Releases.Media archive at www.dgap.de/ukreg --------------------------------------------------------------------------- Language: English Company: JSC VTB Bank 12, Presnenskaya emb. Moscow Russia Phone: +7 (495) 739-77-99 Fax: +7 (495) 739-77-99 E-mail: [email protected] Internet: www.vtb.com ISIN: US46630Q2021 Listed: Foreign Exchange(s) London Category Code: MSC TIDM: VTBR Sequence Number: 2975 Time of Receipt: 28-Jan-2016 / 17:43 CET/CEST End of Announcement EquityStory.RS, LLC News Service --------------------------------------------------------------------------- 432961 28-Jan-2016UK-Regulatory-announcement transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.
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