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April 27, 2015 7:30 PM ET


Company Overview of State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank)

Company Overview

State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank), a state corporation, provides banking and other financial services in the Russian Federation. The company funds and supports investment projects and industrial exports through credits, guarantees and sureties, participation in economic entities’ authorized capitals, leasing transactions, insurance of export credits, and financial and guarantee support for exports. It also offers support services for top-priority industries; assists in regional development; cooperates with international financial institutions to provide joint financing; and provides training in investment projects. In addition, the company ...

Akademika Sakharova Prospekt, 9

Moscow,  107996


Founded in 1924


7 4957 21 18 63


7 4957 21 92 91

Key Executives for State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank)

Chairman of Management Board and Member of Supervisory Board
Age: 61
Head of Internal Control Service Press Office
Chief Accountant and Member of the Management Board
Age: 59
Director of Banking Security
Deputy Chairman of Management Board
Age: 62
Compensation as of Fiscal Year 2014.

State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank) Key Developments

Vnesheconombank Reports Earnings Results for the First Nine Months of 2014

Vnesheconombank reported earnings results for the first nine months of 2014. For the period, the company reported loss of RUB 86.3 billion in the first nine months of 2014 under IFRS, due to provisioning that reached RUB 180.9 billion, up from RUB 74.1 billion in the same period of 2013.

Vnesheconombank Provides Earnings Guidance for 2014 and 2015

Vnesheconombank provided earnings guidance for 2014 and 2015. The company provisionally estimates its IFRS loss in 2014 at approximately RUB 140 billion. The company estimated that 2015 will also be a tough and will post a loss, but most likely it will be half the size of the one in 2014.

Vnesheconombank Appoints Petr Fradkov as First Deputy Chairman, Member of the Board

Petr Fradkov was appointed as Vnesheconombank First Deputy Chairman, Member of the Board. A relevant decision was taken by the Bank's Supervisory Board in December of 2014. P. Fradkov is to be responsible for VEB's participation in pursuing national foreign economic policy, providing financial and guarantee support for exports of Russian companies as well as for raising funds on capital markets and interbank lending. He is to be also responsible for coordinating work on enhancing and maintaining relations with Russian and foreign investors. From December of 2012 to December of 2014 - Board Chairman- Director General of OJSC EXIAR. From October of 2011 - Board Chairman-Director General of OJSC EXIAR, Board Member of State Corporation Bank for Development and Foreign Economic Affairs From June of 2007 - Board Member of State Corporation's Bank for Development and Foreign Economic Affairs (Vnesheconombank). In 2005-2007 - Deputy Director of Directorate - Department Head, First Deputy Director of Vnesheconombank of the USSR Directorate.

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