24th Sep 2007 16:43
JSC VTB Bank24 September 2007 24 September 2007 VTB completes the sale of the controlling interest in ZAO Novosibirskvneshtorgbank On 21 September 2007, VTB Bank completed the sale of its controlling interest inZAO Novosibirskvneshtorgbank (23,802 ordinary shares (99.56%) and 11,849preferred shares (54.15%)) to entities controlled by East-European FinanceCorporation (EEFC). VTB decided to sell Novosibirskvneshtorgbank in line with its strategy todevelop and optimize its regional network. VTB Group intends to expand itsbusiness in the region on the basis of the existing Novosibirsk-based branchesof VTB and VTB 24. Therefore, VTB will handle corporate banking business, whileVTB 24 will continue with its retail business operations, including services tosmall businesses. VTB Group is planning to further increase its presence inthis region in the medium term. -ends- Enquiries: VTB Tel: +7 (495) 739 77 99Nataly Loginova e-mail: [email protected] Mokeeva NOTES TO EDITORS About VTB VTB is a leading Russian universal banking group offering a wide range ofbanking services and products across Russia, certain CIS countries and selectedcountries in Western Europe, Asia and Africa. VTB is focused on providingbanking products and services to Russian and CIS clients through its domesticand foreign operations and to foreign clients doing business primarily relatedto, or in, Russia and the CIS through its foreign banking subsidiaries andrepresentative offices. END This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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