OREANDA-NEWS. In its annual survey of Transparency and Disclosure of the 30 largest Russian banks Standard & Poor’s assigned VTB Bank one of the top rankings. VTB markedly improved its transparency, jumping from sixth place last year to second this year with a total score of 68% in 2007, up from 61% in 2006.

VTB Bank Chairman of the Board and CEO, Andrei Kostin, said: “We are very pleased to be among the leaders for transparency in the Russian banking sector.  VTB is striving to improve its transparency and disclosure practices in a sustainable way to contribute to the increase of shareholder’s value.”

The average level of transparency of Russian banks according to the Standard & Poor’s survey increased to 52% in 2007, as compared to 48% in 2006. Additionally 29 out of 30 banks improved their scores, according to Standard & Poor’s.