Subordinated Loan

11 Nov 2008 13:07

11 November 2008

VTB has received the second tranche of subordinated loan from Vnesheсonombank

Press-release

JSC VTB Bank

PR and Communications Department

Tel.: (+7 495) 783-1717, 

Fax: (+7 495) 783-1895

E-mail: pr1@vtb.ru 

www.vtb.ru

JSC VTB Bank received the second tranche of subordinated loan for RUB100 billion from the State Corporation "Bank for Development and Foreign Economic Affairs (Vnesheconombank)" on November 10 2008.

The subordinated loan will mature at the end of 2019 and bears an annual rate of 8% in accordance with the Federal Law of the Russian Federation as of October 13, 2008 N 173-FZ "On Additional Measures for Supporting the Financial System of the Russian Federation". The total amount of subordinated loan received in the two tranches is RUB200 billion. VTB will use the funds to finance its customers in core industries and to support the interbank market. The first tranche of subordinated loan for RUB100 billion was received from Vnesheconombank on October 23 2008.

Enquiries:

Investor Relations:

Tel.: +7 495 775 71 39

Email: investorrelations@vtb.ru

Media Relations: 

Tel.: +7 495 783 1717

Email: pr1@vtb.ru

END 

F For reference:  VTB Group is a leading Russian financial group with a strong tradition in Russia and the CIS, and a presence in 17 countries around the world. The Russian government is VTB's majority shareholder, with a holding of 77.5%. The remaining 22.5% of the shares are traded on the RTS and MICEX in Russia, and VTB's global depositary receipts are traded on the London Stock Exchange. VTB offers a wide range of services in corporate, retail and investment banking across Russia, certain other CIS countries and a number of countries in Western Europe, Asia and Africa. As of July 1, 2008, VTB was the second largest financial group in Russia by assets (US$ 108.8bn) and by deposits (US$ 44.6bn). VTB is one of the top three retail banks in Russia with a network of 1001 sales offices in Russia and the CIS. In 2008, VTB launched its investment banking business which operates from Moscow, London and Singapore. 

For more information visit our website www.vtb.ru