The orders of the Central Bank are being implemented!
Vneshtorgbank is developing a branch network
Yesterday it became known that Vneshtorgbank (VTB) and Bank Vozrozhdenie signed a cooperation agreement. It will give VTB access to one of the most developed branch networks in the Moscow region. This is another decisive step by VTB to enter the private deposit market after the decision to purchase Most Bank.

On June 8, VTB President Yuri Ponomarev and Vozrozhdenie Bank President Dmitry Orlov signed an agreement providing for joint work in most markets. It is concluded for five years, but after this period it can be extended until 2010. According to Dmitry Orlov, VTB will contribute targeted resources and experience in the field of international operations to the “common treasury,” and Vozrozhdenie will contribute “an extensive branch network.”
According to Yuri Ponomarev, this “agreement was signed in connection with Vneshtorgbank’s plans to intensify activities in the regions, in particular in the Moscow region.” Thus, Vneshtorgbank continues to fulfill the order of the head of the Central Bank, Viktor Gerashchenko, to work more with the population.
VTB's first major step in this direction was the decision to acquire the Most Bank business. In addition to an extensive branch network, Vneshtorgbank will have one of the best card programs in Russia. It is not for nothing that the temporary administration at Most was headed by the famous “card holder” Alexander Polyakov, who at one time moved to VTB from Most Bank. According to Kommersant's information, it is he who will head Most Bank after its takeover by VTB.
True, the possibility of merging VTB with Vozrozhdenie has not yet been confirmed by any of these banks. But be that as it may, the signed agreement will give VTB access to one of the largest branch networks in the Moscow region, which means it will not have to spend money on opening its own branches here.
Vozrozhdenie will benefit from this agreement even if the merger with VTB does not happen. It is no secret that Vozrozhdenie is not in the best condition right now, and the bank expects that this cooperation will attract VTB’s financial resources to finance joint programs. This is precisely what Dmitry Orlov sees as the main goal of the signed agreement. Kommersant will monitor developments.

MAXIM Kommersant-BUILOV, KIRILL Kommersant-Yacheistov

Newspaper "Kommersant" No. 105 dated June 14, 2000, p. 6

Authors:

Maxim Builov