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Bank VTB (Russian: ОАО "Банк ВТБ"), former Vneshtorgbank, is one of the
leading universal banks of Russia and the largest in terms of authorized
capital.
As of December 31, 2005 according to IFRS (consolidated), its shareholders
equity totaled $5.3 billion.
As of April 10, 2007, the bank reported assets of $52 billion, up from $36.7
billion in December 2005. It earned a profit of $1.17 billion in the fiscal year
2006.
The bank holds a 5% stake in the European Aeronautic Defence and Space
Company, which it purchased for $1 billion in 2006.
Privatization: Until January 2007, the Russian government helds 99.9% stake
in VTB. Thereupon, at the World Economic Forum in Davos, its CEO announced that
the government would retain a 50% + 1 share and privatize the rest of company
shares.
The Russia Bank (Bank Rossiya, in Russian: Акционерный коммерческий банк
Россия, АКБ Россия) is a Russian joint stock bank founded on June 271990. Its
headquarters are in St. Petersburg.
History
In 1990 CPSU committee of the Leningrad Oblast became its largest shareholder
(48.4%) , but after the coup attempt in August 1991 the bank's activity was
frozen as it was CPSU-related .
In December 1991 its activity was resumed, as the shares had been redeemed by
some member ventures of the Leningrad Association of Joint Ventures, shares of
which were held by Vladimir Yakunin, Yuriy Kovalchuk, Mikhail Markov, Viktor
Myachin, Andrei Fursenko, Sergey Fursenko, Yury Nikolayev.
As of January 12005, its major shareholders were Yuriy Kovalchuk with 37.6%,
Nikolay Shamalov with 9.7%, Dmitry Gorelov with 9.7% and the Severstal group
with 8.8%.
As of 2006, its major shareholders were Yuriy Kovalchuk (30.4%), Dmitry Gorelov
(12.58%), Nikolay Shamalov (12.58%), JSC Transoil CIS (9.54%), JSC Severstal
Group (7.15%), JSC Accept (3.93%), JSC Relax (3.65%), "Assistance to Business
Initiatives" Non-Commercial Enterprise (3.08%), Russian Federal Property Fund
(2.93%).
As of April 12005 its assets were worth 12.2 billion rubles (ranked 68 in
Russia). As of October 12006 its assets are worth 30.2 billion rubles (ranked 44
in Russia).
On December 282006, Fitch Ratings assigned the bank negative ratings (Long Term
Issuer Default rating B-, Short Term Rating B, National Long Term rating BB-
(RUS) ) as a subsidiary of the bank, ABRos Investment Company, had signed a
non-transparent deal aiming to buy a considerable share of the Ren TV Media
Holding (see below).
Management
The head of its Board of Directors were, in order, Vladimir Kolovay and Andrei
Katkov. the current head of the Board of Directors is Yuriy Kovalchuk, who has
held this position since 2004.
Director General and Head of the Management Committee:
* 1993-1995: Vitaly Savelyev
* 1995-1998: Viktor Myachin
* 1998-1999: Mikhail Markov
* 1999-2004: Viktor Myachin
* September 2004 - April 2006: Mikhail Klishin
* Since April 2006: Dmitry Lebedev
On September 242004, Viktor Myachin resigned from the Director General position
and Mikhail Klishin, who had been the First Deputy Director General and held a
0.197% share, was appointed acting Director General.
On December 102004, Mikhail Klishin was appointed Director General, as the
Central Bank of the Russian Federation had agreed to this decision.
On April 32006, the Board of Directors appointed Dmitry Lebedev Director General
and Head of the Management Committee. Mikhail Klishin (holder of a 0.159% share)
was appointed First Deputy Director General. The Management Committee appointed
on that day: Dmitry Lebedev, Oleg Anufriev, Alexander Germanov, Konstantin
Gorbachyov, Faniya Kabalina, Mikhail Klishin, Galina Lebedeva, Alexander Markin,
Oleg Filatov.
On December 262006, the Board of Directors of the Bank elected its new
Management Committee consisting of Dmitry Lebedev (Head, Director General),
Alexander Germanov, Konstantin Gorbachyov, Faniya Kabalina, Mikhail Klishin,
Alexander Markin and Boris Tikhonenko.
Subsidiaries
As of 2005, the bank is a shareholder of the following companies (see ):
* JSC ABRos Investment Company (100%)
* JSC Alfa Invest (100%)
* JSC ABR Trust (100%)
* JSC ABR Security Company (100%)
* JSC ZEST (100%)
* JSC Sankt-Peterburgskie Vedomosti Editorial House (20%, increased up to 35% in
2005)
* JSC newspaper Sankt-Peterburgskie Vedomosti (20%, increased up to 35% in 2005
http://www.stockmap.ru/news/055593706/http://www.anticompromat.ru/oligarhi/ppo.html)
* JSC Fund for Regional Development of St. Petersburg (15%)
* JSC Center for Innovative Management (10%)
* JSC Red Chemist (7,36%)
In January 2005 it turned out that ABRos, a subsidiary of the bank, and Accept,
one of its shareholders, held a 49,97% share and a 13,5% share of the insurance
group SOGAZ Ltd., respectively , after a 49.979% share of the SOGAZ group had
been sold by the Russian gas giant Gazprom to an unnamed purchaser for 1.69
billion rubles on July 262004 , and in August 2004 Gazprom had sold 26% more of
SOGAZ for 879.3 million rubles.
On November 2005 ABRos Investment Company (Chairman of the Board of Directors
since September 112006: Lyubov Sovershaeva) purchased a 37% share of the
Petersburg TV and Radio Company . Also it owns a considerable share of the Media
Holding Ren TV (as of December 2006, ). On December 182006 Lyubov Sovershaeva
also became the Chairman of the Board of Directors of the Ren TV Media Holding
(replacing Alexey Germanovich, a Severstal Group representative).
Acronym Definition
VTBH Virtual To Be Honest
VTBH Virtual Tablas, Philippines (Airport Code)
VTBH Virtual Test Bench Harness
VTBH Virtual The Back Horn (band)
VTBH Virtual The Big Heavy (Boston, Massachusetts band)
VTBH Virtual The Big House (Michigan Wolverines)
VTBH Virtual The Black Hand (online gaming guilds, band)
VTBH Virtual The Bloody Heathens (band)
VTBH Virtual The Brother Hood (gaming clan)
VTBH Virtual To Be Hired
VTBH Virtual Total Body Hug
VTBH Virtual Tyramine Beta Hydroxylase
VTBH Verification Test Bed Home
VTBH Virginia Tax Bulletin Home
VTBH Virtual Tape Backup Home
VTBH Vlaamse Toeristen Bond Home
VTBH Vneshtorgbank Home
VTBH Vote to Ban Home
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