16 Kuznetsky Most
Moscow 103031
Tel.: +7 (495) 783 15 15;  783 16 16
Fax: +7 (495) 258 47 81
Email info@vtb.ru
http://www.vtb.ru

Chairman and CEO: Andrey L. Kostin

Board of Directors: (bold denotes Hune 2007 appointees)
Vadim O. Levin, First Deputy Chairman
Olga K. Dergunova
Yulia G. Chupina, Senior Vice President
Gennady V. Soldatenkov, Deputy Chairman
Evgueny V. Novikov
Andrei S. Puchkov
Nikolai V. Tsekhomsky
Vasily N. Titov, Senior Vice President
Igor N. Zavyalov, Deputy Chairman

September News: Personnel Changes @ VTB: Reuters reports VTB Deputy Chairman Igor Zavyalov will shortly submit his resignation and the head of VTB's investment banking division, Vasily Kirpichev, is joining a Western bank. Vasily Titov told Reuters separately that Vice-President Denis Ursulyak, who oversaw the bank's debt policy, decided to leave VTB. Another banking source said three more executives who lost their seats on the management board were also planning to leave the bank: former Deputy Chairman Alexei Akinshin, head of the legal department, Konstantin Kozhevnikov, and Vice-President Erkin Norov. After VTB's initial public offering in London in June, ex-Microsoft Russia Chief Executive Olga Dergunova, ex-McKinsey consultant Julia Chupina and Nikolai Tsekhomsky, a former auditor with Ernst & Young, joined the bank's management board.

Russian banks are in fierce competition for qualified executives, making banking jobs one of the most lucrative in the country's booming economy.

VTB was rated national Long Term AAA(rus) with a stable outlook by Fitch's International Ratings Agency in August 2006. VTB's 1st half IFRS results 2006 recorded earnings growth of 399%. Assets grew by 11% and deposits by 17% 01/01/06-08/01/06. VTB's IH net profit rose 4 fold to reach $576mln against $146mln in 1H'05. The sale of KAMAZ stocks accounted for some $89mln.

2006 RESULTS: VTB's net profit for 2006 was up 130% to $1.2 Bln (from $500 million in 2005). Group Net assests increased by over 40%, from $36.723 bln as of January 1,2006 to more than $56 bln. Credit investment in the non-financial sector went up 50%, to $29 bln as of January 1, 2007, and owner equity grew from $5.3 bln to $7 bln. The Group's IPO Roadshow willl start in early May in teh US, with an expected flotation in New York, London and Moscow.

Figures 1H06

Click here for full 1H06 presentation

Jan 07: The consolidated portfolio of mortgage loans extended by VTB 24, VTB and the Industrial-Construction Bank (Promstroibank) in 2006 amounted to Rbs24.5 bln ($0.925 bln), up 270%. Loans provided in Moscow account for 67% of the portfolio and those in regions for 33%. In 2007 the group intends to increase the portfolio to Rbs59.7 bln ($2.25 bln)

Ownership structure: Presently, the Government of the Russian Federation is the major shareholder of Vneshtorgbank, with its share accounting for 99.9%. Among other shareholders are Gazexport, Sberbank, Energomashexport, Ingosstrakh and the Chamber of Commerce and Industry of the Russian Federation.  The bank"s equity stood at RUR 82.3 billion as of 1 January 2006, and its balance sheet profit for 2005 amounted to RUR 12.9 billion. VTB has controlling interest in the United Bank of Georgia and Ukraine"s Mria Bank. It also holds 92.2% of Vneshtorgbank Financial Retail Services, which has operated under the name Vneshtorgbank since 2005. Following a crisis in confidence in june july '05, Guta Bank changed its name to Vneshtorgbank.

IPO In August 2006 Kommersant reported that Kremlin aide Arkady Dvorkovich confirmed the state was seeking to reduce its shareholding in in Sberbank, in which it owns 63%, and in Vneshtorgbank (VTB) to 50% +1 share through IPO mechanisms. The Central Bank has 61% of Sberbank's capital and 63.76 percent of its common shares. In March, VTB put its IPO plans on hold, and industry experts feel the bank has plenty of work to do to consolidate its recent acquisitions, including St. Petersburg-based Promstroibank (PSB). VTB acquired a blocking minority stake in PSB in march 2005 for $97 million and increased its holding to 75%+3shares for $480 million the following December, However, negotiations have not been smooth and analysts at Alfa Bank feel a raw deal has been mooted out to PSB (minority) shareholders. VTB is expected to split its share value at a ratio of 1:100,000 in order to facilitate a swap with PSB shareholders with a view to a 20% IPO early in 2007.

Eurobonds Oct'06. VTB announced it will place over %500 million in bonds through Barclays, Deutsche Bank and JPMorgan.

Revenue: Shareholders' equity grew 94% to $5.269 billion, while assets more than doubled to $36.723 billion by the end of 2005. In 2005 net profit reached $146 million, compared to losses of $42 million for 2004.

Subsidiaries: The foreign network of the Bank is represented by subsidiaries in London (United Kingdom), Paris (France), Zurich (Switzerland), Limassol (Cyprus), Vienna (Austria), Frankfurt-on-Main (Germany), Luxembourg, Kiev (Ukraine), Tbilisi (Georgia) and Yerevan (Armenia). There are also representative offices in Milan (Italy), Beijing (China), Delhi (India) and Minsk (Belarus).

Major projects: Vneshtorgbank actively develops cooperation with gold mining enterprises providing financial assistance during the gold extraction season. Its policy is aimed at servicing gold mining enterprises at the local level through the network of its branches in the major gold mining regions such as Magadan, Khabarovsk, Blagoveshensk and  Krasnoyarsk.

To reach its strategic objective of transforming into a universal bank of European dimension and to solidify its share in the Russian banking market, Vneshtorgbank has placed a special focus on developing comprehensive retail services. To this end, in August 2005 a specialized subsidiary bank of Vneshtorgbank under the brand of Vneshtorgbank 24 launched its operations offering services to households and SMEs.

Countries/Regions: Vneshtorgbank comprises over 1,800 correspondent banks located in more than 100 countries worldwide. Inter-bank cooperation is growing with leading financial institutions in Russia`s permanent trading partners. Cooperation agreements have been entered into with banking institutions of Algeria, Brazil, Vietnam, Georgia, Israel, India, Iran, Kazakhstan, China, Malaysia, Poland, Ukraine and other countries.

Vneshtorgbank has extended its network of branches into St. Petersburg, Khabarovsk, Blagoveschensk, Irkutsk, Krasnoyarsk, Kaliningrad, Vyborg, Sochi, Stavropol, Novorossiysk, Izhevsk, Nizhny Novgorod, Novosibirsk, Krasnodar, Ulyanovsk, Magadan, Belgorod, Tula, Vladimir, Yoshkar-Ola, Kostroma, Penza, Samara, Cheboksary, Chita, Perm, Ekaterinburg, Rostov-na-Donu, Saratov, Tyumen, Astrahan, Chelyabinsk, Vladivostok, Tomsk, Tambov, Yaroslavl, Yakutsk, Kazan, Omsk, Ufa, Kursk, Kemerovo, Lipetsk, Smolensk, Kaluga, Ryazan, Ulyanovsk, Orenburg, Nalchik, Petropavlovsk-Kamchatskiy, Barnaul, Bryansk, Vologda, Tver and Ulan-Ude

History: Vneshtorgbank was established in 1990 as a private corporation with government ownership with a focus on handling foreign exchange for Russian companies and institutions at the time.  In 1998, the Bank was transformed into a public corporation. During the 1998 financial crisis, Vneshtorgbank was one of the few banking institutions to continue its full-scale activities and to duly handle payments and settlements both with respect to clients` transactions and obligations to depositors and creditors. Following the crisis In 1999, Vneshtorgbank fully settled its forward contracts with foreign banks and paid up a $200 million eurobond loan and a $120 million syndicated loan raised on international capital markets in 1997. The Banks ability to remain solvent throughout the chaos at the turn of the century was instrumental in further strengthening its position in the national market.

Profile compiled by Julia Sokhatskaya