VTB Group considers Azerbaijan priority region

Baku, May 17 (AZERTAC). Azerbaijan is one of the priority regions for the VTB Group, director of the department of subsidiaries of Bank VTB OJSC Mikhail Yakunin said on Friday at the opening ceremony of the new head office of VTB Bank (Azerbaijan) in Baku.

Yakunin said opening the new office marks a new stage in the development of VTB Bank (Azerbaijan).

Speaking at the ceremony, Chairman of the Board of VTB Bank (Azerbaijan), Alexander Eremin expressed his gratitude to the bank's personnel, colleagues and partners from other VTB subsidiaries.

Bank VTB (Azerbaijan) JSC, trading in the country since 2009 (under banking license No.162 issued by the Central Bank of the Republic of Azerbaijan on March 11, 2009), is a subsidiary of Bank VTB JSC. The shareholding stands at a 51 per cent of the shares belonging to Bank VTB (Russia) JSC and 49 per cent to AtaHolding.

VTB Group ranks second in all the major indicators in the Russian banking market. VTB Bank JSC has the highest rating of international rating agencies Moody`s Investors Service, Standard & Poor`s and Fitch among Russian banks.