27th Jun 2008 07:32
26 June 2008
VTB Annual General Shareholders Meeting
On 26 June 2008, at the "Lenexpo" Exhibition Complex, St. Petersburg, the VTB Bank Annual General Shareholders Meeting was held under the chairmanship of Alexei Ulyukaev, Member of the VTB Supervisory Council. Approximately 900 shareholders discussed and voted on 11 issues put on the agenda, in particular:
1. Approval of the JSC VTB Bank Annual Report.
2. Approval of the JSC VTB Bank Annual Financial Statements, including the Profit and Loss Statement (JSC VTB Bank Profit and Loss Account).
3. JSC VTB Bank profit (loss) allocation as a result of the 2007 performance, including announcement of VTB Bank dividends (their amount, time brackets and form of payment).
4. Number of VTB Bank Supervisory Council members.
5. Election of the VTB Bank Supervisory Council.
6. Number of VTB Bank Statutory Audit Commission members.
7. Election of the VTB Bank Statutory Audit Commission.
8. Approval of the candidacy of VTB Bank's auditor.
9. Approval of interested party deals to be entered into by JSC VTB Bank in the course of its ordinary business activities.
10. Approval of a new edition of the VTB Bank Charter.
11. Remuneration of independent members of the VTB Bank Supervisory Council.
Andrei Kostin, VTB President - Chairman of the Management Board, Members of the Board Nikolai Tsekhomsky and Andrei Puchkov, and Olga Avdeeva, VTB Chief Accountant addressed the shareholders.
Andrei Kostin said: "Today's meeting is a landmark event for VTB Group, since it's the first time our private shareholders have attended it. We are grateful to them for their active participation in the work of this collective governance body of VTB Bank. The support from shareholders is very important for us, and therefore we are sure to meet their expectations by implementing VTB's most ambitious plans and consistently pursuing our Development Strategy for 2010 with its major objectives remaining unchanged. As a result, VTB Group will maintain leadership positions not only in Russia, but also in the global financial markets".
Voting results on the agenda of the VTB Bank Annual General Shareholders Meeting are expected to be published soon.
Contacts:
Investor Relations:
Tel.: +7 495 775 71 39
Email: [email protected]
Media Relations:
Tel.: +7 495 783 1717
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About VTB Bank:
JSC VTB Bank and its subsidiaries (the VTB Group or the Group) is a leading Russian banking group, offering a wide range of banking services and products across Russia, certain CIS countries and in selected countries of Western Europe, Asia and Africa.
As of December 31, 2007 the Group had a network of 583 branches located across Russia, comprised of 152 branches of VTB, 328 branches of VTB24 and 103 branches of VTB North-West. Outside of Russia, the Group operates through four subsidiary banks located in the CIS (Armenia, Georgia, Ukraine and Belarus), six subsidiary banks located in Europe (UK, France, Germany, Austria, Switzerland and Cyprus), one subsidiary bank and one financial company in Africa (Angola, Namibia), and an associated bank in Vietnam. VTB also has a presence in Singapore through a branch of its UK subsidiary. VTB has operated under a full banking license, № 1000, from the Central Bank of the Russian Federation since 1990.
The Group's business franchise is in the areas of corporate, retail and investment banking. In corporate banking, the Group 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, leasing and treasury services to large- and medium-sized corporations and financial institutions. In retail banking, VTB offers financial services, including deposit accounts, lending and certain ancillary services, to individuals and small-sized corporations. In investment banking it provides debt capital markets underwriting, project financing, merger and acquisition financing, advisory services, asset management and venture funds.
The Group had 35,945 employees as of December 31, 2007. The Government of the Russian Federation is VTB's main shareholder and owns, through the Federal Property Management Agency, 77.5 % of its registered share capital. For more information please visit
Disclaimer:
Some of the information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of VTB. You can identify forward-looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might" the negative of such terms or other similar expressions. These statements are only predictions and actual events or results may differ materially. VTB does not intend to or undertake any obligation to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in VTB's projections or forward-looking statements, including, among others, general economic conditions, VTB's competitive environment, risks associated with operating in Russia, rapid technological and market change, and other factors specifically related to VTB and its operations.
This document does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of VTB, nor shall any part of it nor the fact of its distribution form part of or be relied on in connection with any contract or investment decision relating thereto, nor does it constitute a recommendation regarding the securities of VTB.
Information contained in this document is not an offer, or an invitation to make offers, sell, purchase, exchange or transfer any securities in Russia or to or for the benefit of any Russian person or any person in Russia, and does not constitute an advertisement of any securities in Russia.
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