VTB CEO opens trading during the Market Open Ceremony at the London Stock Exchange

19 may 2017

On 19 May, President and Chairman of VTB Bank Management Board Andrey Kostin opened trading at the London Stock Exchange. This honour marked ten years since the bank held its IPO and started trading its securities at the LSE.

VTB was the first among Russian banks to hold an Initial Public Offering (IPO) in May 2007, and the bank’s stock started trading in Moscow in May of the same year as well. This was the largest international IPO in the banking sector at the time, with VTB raising $8bn.

Inclusive of the Secondary Public Offerings (SPO) carried out in 2011 and 2013 VTB raised an estimated $15bn through the sale of its shares to large Russian and international investors and sovereign funds. VTB’s IPO has boosted the development of Russia’s economy and stock market.

In the years since its IPO, VTB has greatly progressed, more than doubling its share of the Russian banking sector reaching an estimated 20 percent and increasing its assets eight-fold to approximately $200bn.

The group’s retail business was launched in 2005 and holds leading positions in Russia. In 2016, VTB and the Russian mail service Pochta Rossii launched the unique Post Bank project.

The group’s investment business, VTB Capital, was established in 2008 and is now the leader in this segment of the banking market. VTB Group has over 10,000 branches and offices in Russia and other countries. These branches service over 23 million clients.

Andrey Kostin said that the three-year development strategy the bank has recently launched marks a new stage in the group’s development and provides for further strengthening operating efficiency and increasing net profit to over RUB 200bn in 2019. The bank’s operating results for January−March 2017 indicate positive dynamics in all areas, demonstrating VTB’s solid progress towards achieving its strategic goals.