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February 08, 2016 2:58 PM ET

Banks

Company Overview of Bank VTB 24

Company Overview

Bank VTB 24 Public Joint-Stock Company provides various banking products and services to individuals, entrepreneurs, and small businesses in the Russian Federation. It offers time deposits, savings account, and unallocated metal accounts; cash loans, credit cards, mortgages, auto loans, revolving loans, investment credit, loans for collateral, overdrafts and credit targets, and letters of credit; and various insurance programs. The company also provides safety deposit box, broking and FOREX, transfers and payments, currency exchange and cheque, remote account management, settlement and cash, FEA and currency control, and online banking services. It operates through a network of 1062 branch o...

d. 35, Myasnitskaya Street

Moscow,  101000

Russia

Phone:

7 495 777 2424

Fax:

7 495 980 4666

Key Executives for Bank VTB 24

Chairman of the Management Board, Vice President and Director of Marketing & Public Relations
Age: 53
Director of Operations and Member of the Management Board
Age: 55
Chairman of the Supervisory Board and Chief Executive Officer of VTB Bank
Age: 59
Chairman of the Management Board, Deputy President and Head of The Department of Networks
Age: 46
Deputy Chairman of the Management Board, Deputy President and Member of Supervisory Board
Compensation as of Fiscal Year 2015.

Bank VTB 24 Key Developments

Russian Post and VTB24 to Establish New Retail Bank - Post Bank; Appoints Dmitry Rudenko as Head of the Post Bank; Plans to Open New Outlets in 2016

Russian Post and VTB24 have signed documents agreeing to the establishment of a new retail bank, Post Bank. The signing ceremony was attended by Russian Post Director General Dmitry Strashnov and VTB24 President and Chairman of the Board, Mikhail Zadornov. Post Bank has been established using the framework of Leto Bank, a VTB24 subsidiary. The first Post Bank offices will open in the first quarter of 2016. The new bank will be headed by former President and Board Chairman of Leto Bank Dmitry Rudenko. The Supervisory Board of Post Bank will be comprised of representatives from Russian Post, VTB Group and the Ministry of Communications and Mass Media. Within three years, the new bank is planned to have over 20,000 outlets at 15,000 Russian Post offices. Of these, at least 6,500 outlets will open at 3,500 post offices in 2016.

OTP Bank and VTB24 Put Up RUB 50 Billion Bad Debts For Sale

According to the participants of the debt collection market, OTP Bank Plc. (BUSE:OTP) and Bank VTB 24 have announced tenders for more than RUB 50 billion of bad debts. OTP Bank intends to sell about RUB 30 billion of non-performing loans and VTB 24 about RUB 21 billion.

VTB 24 to Downsize Personnel

VTB 24 announced that the company will downsize personnel by 11%, or 4,000 people, as of year-end 2015. The decision was partly influenced by customers migrating to digital channels. In nine months of 2015, the number of VTB 24's Internet bank users increased to 3.1 million people. The company announced that about 57 offices get shut down yearly on average. Currently VTB 24 has 1,062 offices.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
January 25, 2016
Leto Bank OJSC
Private Placement
May 26, 2015
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