News


11 August 2010

European Bank for Reconstruction and Development no longer a shareholder of JSC “VTB Bank Georgia

The public corporation “VTB Bank” purchased 7,730,073 shares of JSC “VTB Bank Georgia” from the European Bank for Reconstruction and Development (EBRD) on 9 August 2010. The transaction was foreseen in 2006 according to the agreement between the public corporation “VTB Bank” and the EBRD. According to the results of the deal, the share of the public corporation “VTB Bank” in the authorised capital of JSC “VTB Bank Georgia” increased to 92.57 percent and to 96.16 percent in the paid-up capital. The European Bank for Reconstruction and Development and JSC “VTB Bank Georgia” are ready to continue their co-operation within the framework of various other agreements.

Notice:

“VTB Bank Georgia” has been a member of the international financial group “VTB” since 2005. The largest shareholder of JSC “VTB Bank Georgia” is the public corporation VTB Bank (with 96.16% of shares). According to the standing of 6 August 2010, the total assets of the Bank are represented in amount of GEL 408,966,068.

VTB Group is an international financial group which operates in 20 countries on three continents (Europe, Asia, and Africa) and offers a complete spectrum of retail and corporative bank products. 22.5 percent of VTB shares are quoted at the London Stock Exchange and at the Stock Exchanges of Moscow RTS and MMVB.


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