OREANDA-NEWS. August 05, 2011. VTB Shareholders Consultative Council (SCC) held its 11th meeting attended by Vasily Titov, First Deputy Chairman of VTB Management Board, and Herbert Moos, Deputy Chairman, reported the press-centre of VTB.

On top of the agenda was situation related to the Bank of Moscow since the SCC members expressed their concern. Vasily Titov and Herbert Moos explained the current situation to the shareholders. In particular, detailed information was given on terms and conditions of the deal, the reasons for entering it and benefits to be derived. Special attention was paid to factors affecting the price of VTB interest in the Bank of Moscow and value of its loan portfolio. The SCC members and VTB top-managers discussed obstacles in the way to finalizing the acquisition of the Bank of Moscow.

Citing Vasily Titov, “VTB is doing its best to solve the problems resulting from the willful actions of the previous top-management of the Bank of Moscow. I am sure the Bank will be able to overcome these difficulties and reach an absolutely new level of its development. And we will see to it that our shareholders’ interests won’t be affected.” Vasily Titov also emphasized that “VTB is always open to a dialogue with its shareholders.”

Also participating in the meeting was Konstantin Petrov, General Director of CJSC VTB Registrar, who told the minority shareholders about the performance and development plans of VTB Group’s register holder.

The SCC members discussed the results of the workshop held for shareholders in Novosibirsk, and also approved a schedule for holding SCC Doors Open Days in Moscow and St.Petersburg.
Having closed the meeting, the CSS members visited VTB Capital Dealing Center and highly appreciated its capacity and technological level.

For reference:
VTB Shareholders Consultative Council is an independent body established in 2009 at the initiative of VTB Bank minority shareholders. The Council consists of 10 members elected by voting of the Bank’s shareholders. Heading the Consultative Council is Vladimir Tarachev, Co-chairman of the Consumers Union of Russia, Doctor of Economics, Professor of the Financial University under the Government of the Russian Federation. The first meeting of the Council was held on 30 July 2009.