VTB Bank

Overview

VTB Bank (PJSC) is a Russian universal commercial bank with significant state participation. It is the head structure of VTB Group, a financial conglomerate. As of August 2021, the market capitalization of the bank was 648 billion rubles (approximately $8.8 billion USD).

History

The bank was founded in 1990 as a private limited company, majority owned by the state. In 1998, it began operating under its current name, VTB Bank.

Structure and Ownership

VTB Bank is the second-largest bank in Russia, with 60.9% of its ordinary shares owned by the state. The remaining 39.1% are in free circulation. Taking into account preferred shares, 92% of the share capital of the group is under state control.

Administration

The main office of the bank is located in Moscow, and it has subsidiaries or associate banks in several countries, including Belarus, Armenia, Kazakhstan, Azerbaijan, Georgia, Germany, Italy, Great Britain, Cyprus, and others. As of 2022, the bank's customers number over 16 million people and 858 thousand small and medium-sized businesses.

Financial Performance

As of December 31, 2005, according to IFRS (consolidated), VTB Bank's equity capital was $5.3 billion. In 2006, the bank acquired a stake in the EADS consortium for $1 billion, which it later sold in 2007 for $1.450 million.

Operations

VTB Bank operates as a universal bank, providing a wide range of financial services to its customers. As of 2020, the bank issued over 1 trillion rubles in loans.

Subsidiaries and Affiliates

In January 2018, VTB24, a subsidiary bank, joined VTB Bank. The bank also has subsidiaries or associate banks in several countries, including those mentioned above.

Representation

VTB Bank is represented in the RTS index and has important representations in Frankfurt am Main and Vienna. Its headquarters are located in Saint Petersburg, but it operates from Moscow.