Andrei Kostin, VTB President and CEO visits Nalchik

The President of the KBR and VTB President and CEO discussed the implementation of the Cooperation Agreement signed between VTB Bank and the Government of the KBR in June 2004. The Agreement is aimed at developing socially important spheres of economy and creating conditions to increase the investment potential of the Republic.

VTB Bank effectively cooperates with the KBR in financing the programmes important for the economy and infrastructure of the Republic. “VTB intends to provide all-round support to the government of the Republic in solving important social and economic tasks, as well as to actively participate in the investment life of the region”, said A.L. Kostin.

With a view to develop retail banking market in the Republic in 2008, VTB Group plans to expand its presence in the KBR. Thus, in December a regional operating office of VTB24, VTB Group retail Bank, will be opened in Nalchik. The office will also be focused on small business lending and household mortgage loans.

VTB also supports the social life of the region. In Autumn 2007, to mark the 450th anniversary since the KBR voluntary joined Russia, VTB presented about three thousand books by the “Molodaya Gvardiya” Publishing House to the regional and municipal libraries of the Republic.

For reference:

VTB Bank is represented in the Kabardino-Balkarian Republic by the operational office of its Branch in Stavropol.
Today, VTB Branch in Stavropol has its offices in Pyatigorsk, Nevinnommyssk (the Stavropol region), and Grozny (the Chechen Republic). It also has off-premises cash desks of Aeroport Severny and operating office in Hankala village (the Chechen Republic).
VTB Branch in Stavropol intends to develop the infrastructure in the region. The opening of operational office in Vladikavkaz (the Republic of North Ossetia-Alania) is scheduled for Autumn 2008.
The Branch is mainly focused on extending the range of banking services in national and regional programmes implementation.

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