JSC VTB Bank VTBR VTB SC approves asset disposal programme

  JSC VTB Bank (VTBR) - VTB SC approves asset disposal programme

RNS Number : 4649P
JSC VTB Bank
24 October 2012






VTB Supervisory Council approves asset disposal programme



The Supervisory Council of VTB Bank has approved a state-backed programme
aimed at disposing some of the bank's assets in the sectors with a high level
of competition.

Following Prime Minister Dmitry Medvedev's directive and the instructions of
the Federal Agency for State Property Management, this issue was discussed at
a Supervisory Council meeting today. The programme is scheduled to be realized
by the end of 2015.

The programme, approved by the Supervisory Council, includes a number of
companies, in which VTB holds minority stakes.

"The bank has evaluated the expediency of disposing these assets," VTB
President and Chairman of the Management Board Andrey Kostin said. "A list of
stakes to be sold has been preliminarily endorsed by the Supervisory Council's
Committee on Strategy and Corporate Governance. I am confident that this
programme will enhance competitive environment and serve to promote the growth
of the Russian economy."





                                      

                                      

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DISBKQDBPBDDCKB -0- Oct/24/2012 15:30 GMT