Thursday, February 11 2016 03:47

s per the Russian government's order, dated 13.05.2015 No.877-r, the Deposit Insurance Agency (DIA) on July 30, 2015 acquired 3,073,905 million of VTB Type A preference shares with a par value of 0.1 rubles, the press office of VTB Bank (Armenia) told ArmInfo. 

As a result of the deal, the current ownership of the Russian Federation acting through the Federal Agency for State Property Management in ordinary shares of JSC VTB Bank is 60.9%. The share of the Russian Federation in the authorised capital of JSC VTB Bank is 45.01%, including the share of Russian Finance Ministry in the bank's preference share capital. The state retains control over VTB's voting shares, as required by Presidential Decree. 

Thus, the Presidential Decree, dated February 8, 2016 No.46, was issued with an aim to harmonise the share of the Russian Federation in the authorised capital of JSC VTB Bank, stated in the list of strategic enterprises and strategic joint-stock companies approved by the Presidential Decree from August 4, 2004 No.1009, with the current ownership. It should be underscored that the Decree does not provide for the possibility of reducing the share of the Russian government in VTB.

VTB Group is a global provider of financial services, comprised of over 20 credit institutions and financial companies operating across all key areas of the financial markets. VTB Group is a holding company with one strategically aligned development model, including a common brand, centralised financial and risk management, and integrated compliance systems. VTB Group's global network is unique to the Russian banking industry. It enables the group to facilitate international partnerships and promote Russian companies aiming to engage with global markets. VTB Group operates a large international network across CIS countries; Armenia, Ukraine, Belarus, Kazakhstan and Azerbaijan. VTB also has banks in Austria, Germany and France which are part of a European sub-holding with VTB Bank (Austria) acting as the parent bank for Germany and France. The Group also has subsidiary and affiliated banks in the United Kingdom, Cyprus, Serbia, Georgia and Angola and branches in China and India and VTB Capital has branches in Singapore and Dubai. The majority shareholder of the VTB Bank is the Russian Government, which owns 60.9 percent of the voting shares or 85.3 percent of the Bank's share capital.

VTB Bank (Armenia) joined VTB Group in April 2004 and is fully owned by VTB Group, the second biggest bank in Russia. VTB Bank (Armenia) is one of the leaders of Armenia's banking sector. It has the largest branch network in Armenia with the branches located in both Yerevan and all provinces of the country.