OREANDA-NEWS. On February 12, 2008 JSC VTB Bank (“VTB”) has decreased its stake in OJSC VTB Bank North-West (“VTB North-West”) to 71,5% as a result of a REPO transaction with VTB North-West shares, reported the press-centre of VTB.

The REPO transaction, which represents a standard commercial operation, has been completed between VTB and a non-affiliated company.

This deal will make no influence on VTB plans to continue further consolidation of VTB North-West shares and integration of VTB North-West into VTB Group. As previously announced, VTB North-West will specialize in the corporate business in the North-West Federal District.