January 29, 2015 4:36 AM ET

Banks

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

Russia

Founded in 1924

Phone:

7 4957 21 18 63

Fax:

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 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.

Vnesheconombank Reports IFRS Earnings Results for the Third Quarter and Nine Months Ended September 2014

Vnesheconombank reported IFRS earnings results for the third quarter and nine months ended September 2014. For the period, the company posted net loses of RUB 86.3 billion to International Financial Reporting Standards (IFRS). Net loss was RUB 88.75 billion in third quarter alone.

Vnesheconombank to Launch Electronic System of Supporting Russian Exports

In accordance with a decision taken in 2013 by the Government of the Russian Federation, Vnesheconombank was appointed as coordinator for activities on providing comprehensive support for exports of Russian products, works and services and it is also responsible for considering requests for such support in a single window mode. The introduction of the internet portal Financial Support for Russian Exports has become a practical solution for the task set. Using this system, foreign purchasers of Russian products, works services and Russian exporters can apply to Vnesheconombank for obtaining funding. The said system provides for using personal account for registered users in which the applicant can keep track of his application consideration status on-line.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
October 13, 2014
Open Joint-Stock Company INTER RAO UES
Merger/Acquisition
October 3, 2014
LLC Interproject
Merger/Acquisition
August 4, 2014
LLC Interproject
 

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