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VTB 24 bank

   
Name  VTB 24
Full name  Public Joint-Stock Company "Bank VTB 24"
Licence  1623 | Summary on the Central Bank of Russia Site

Ranking

on 01.07.2015 г.
Net assets 2 702 666 294 RUR, tnd, 5th place in Russia, 4th place in regions
Net profit −12 391 669 RUR, tnd, 777th place in Russia, 415th place in regions
All indicators
Headquarter 
101000, Moscow, Myasnickaya street, 35
URL  www.vtb24.ru
Banki.ru reference

VTB 24, a public joint stock company, is one of the largest financial institutions in Russia that is in charge of VTB Group’s retail business. VTB Bank controls 99.92% of VTB 24 shares, and the bank’s business focus is to serve households, individual entrepreneurs and SMEs.

VTB 24 was established on the basis of Guta-Bank that collapsed during the inter-bank crisis of 2004 and was acquired by Vneshtorgbank (now VTB Bank) with participation of the Bank of Russia. Guta-Bank (CJSC) was renamed Vneshtorgbank Retail Services in 2005, and turned into VTB 24 in November 2006, and the bank’s corporate status changed to a public joint stock company (PJSC).

VTB Bank controls a 99.92% interest in VTB 24, with 0.08% falling to minority shareholders. Since July 2005 Mikhail Zadornov has been the bank’s management board chairman after serving as the Russian finance minister from November 1997 through May 1999 (including August 1998). It should also be noted that in late April 2012 Bryansk-based Bezhitsa-Bank ended up under the wing of VTB 24 and was renamed Leto-Bank. In late October 2013 VTB Group said that the merger of its two banks, VTB 24 and Transcreditbank (the latter was folded into VTB 24), was wrapped up and the Transcreditbank brand ceased to exist since November 2013. As a result of this merger VTB 24’s retail credit portfolio expanded by around 11%, while retail deposits jumped 5.2%. The bank’s united clientele equals roughly 12 mln active clients, its aggregate workforce is 34,500 people, 28,000 of whom are VTB 24 staff, and the rest falls to Transcreditbank employees.

VTB 24 is part of international banking group VTB, with a focus on households, individual entrepreneurs and small enterprises. The lender’s sales network is comprised of over 1,062 offices in 72 constituent entities of the Russian Federation, including 15 branches in the country’s largest cities. The bank employs more than 35,000 people.

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