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February 07, 2016 9:18 PM ET

Banks

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

Company Overview

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 small and medium-sized enterprises; assists in regional development; cooperates with international financial institutions to provide joint financing; and provides training in investment projects. In addition, the company acts as an agent for the government in the areas of governm...

Akademika Sakharova Prospekt, 9

Moscow,  107996

Russia

Founded in 1924

18,026 Employees

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 Executive Board and Member of Supervisory Board
Age: 62
Head of Internal Control Service Press Office
Chief Accountant and Member of the Executive Board
Age: 60
Director of Banking Security
Deputy Chairman of Executive Board
Age: 63
Compensation as of Fiscal Year 2015.

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

Vnesheconombank Plans To Sell Sviaz-Bank And Globex Bank To Deposit Insurance Agency

State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank) plans to sell Sviaz-Bank and GLOBEX Commercial Bank, Joint Stock Company to the Deposit Insurance Agency (DIA) at a market price, Vnesheconombank said in a statement. "It is anticipated that the deal will be concluded at a market price determined by an independent appraiser. The entire proceeds of the deal will be used to pay down an issue of Vnesheconombank obligations held by the Central Bank of Russia," the statement says. Interfax reported.

Vnesheconombank Announces Earnings Results for the Third Quarter Ended September 2015

Vnesheconombank (VEB) announced earnings results for the third quarter ended September 2015. For the quarter, the company reported net losses of RUB 59.5 billion to International Financial Reporting Standards (IFRS) in third quarter 2015, down from RUB 88.75 billion in the same period of 2014. Losses widened to RUB 113 billion in January-September 2015, from RUB 86.3 billion a year previously.

Vnesheconombank Set to Receive CNY 10 Billion Loan from China Development Bank

Vnesheconombank will borrow CNY 10 billion from the China Development Bank, adding that a relevant agreement will be signed December 17, 2015. The loan will be used to finance mining projects, mainly a mining facility in Russia's Zabaikalsky region.

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