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VTB Bank
VTB Bank (Russian: ПАО Банк ВТБ, lit. 'PJSC Bank VTB'; formerly known as Vneshtorgbank, Внешторгбанк, lit. 'International Trade Bank') is a Russian majority state-owned bank headquartered in various federal districts of Russia; its legal address is registered as St. Petersburg. As of 2022, over 90% of the company's capital stock was owned by three Russian agencies.
VTB Bank and its subsidiaries form VTB Group – a leading Russian financial group uniting VTB banks located in different countries and offering a wide range of corporate banking services and products in Russia, CIS, Europe, Asia, Africa, and the US. As of April 2025, VTB had a Chinese subsidiary which operated a branch in Shanghai.
VTB was ranked 446th on the FT Global 500 in 2011. The Financial Times’ annual snapshot of the world's largest companies. It climbed to 210th in the ranking of the 500 largest companies in Europe, the FT Europe 500 2014, and to 127th in the FT Emerging 500 2014, the list of the 500 largest companies in the world's emerging markets. VTB Bank (PJSC) has 22 branches and 3 representative offices in 13 regions of Russia and 4 foreign countries.
VTB Bank was founded as Vneshtorgbank in 1990 with the support of the Russian State Bank and the Ministry of Finance. It was set up as a limited liability company with the aim of servicing Russia's foreign trade operations and promoting Russia's integration into the global economy.
In 2004, the bank acquired a majority stake of 85.8% in Guta Bank, which was reorganised into a retail bank, Vneshtorgbank 24 (VTB24). The bank also acquired the Armenian Armsberbank, which was later renamed VTB Armenia. In 2005, the bank acquired 75% plus three shares of the Promstroybank (PSB), which was reorganised as Bank VTB North-West and later became VTB's North-Western Regional Centre, and bought the Ukrainian bank Mriya, which was later merged with VTB Bank (Ukraine).[citation needed]
In 2007, the bank set up a subsidiary in Angola known as VTB África. The bank also took over Slavneftebank in Belarus and later renamed it VTB Belarus. In June, VTB became the first Russian bank to offer an initial public offering (IPO), raising $8 billion in what became the largest international banking IPO at the time.
In 2008, the bank acquired a 51% stake in AF Bank in Azerbaijan from AF Holding International, later renaming it VTB Azerbaijan. In 2010, the bank's board approved the phased acquisition of TransCreditBank from Russian Railways. In 2013, VTB carried out a secondary public offering (SPO) which raised 102.5 billion rubles ($3.3 billion) and diluted the Russian government's share in VTB from 75.5 percent to 60.9 percent. In 2022, VTB Bank extended a 630 billion ruble ($11.06 billion) credit line to be used for the purchase, repair and modernisation of the country's railway infrastructure.
In 2011, VTB invested more than $191 million for shares in the Isle of Man company DST Investment 3 which was roughly than half of the funds in Yuri Milner's DST Global. This led to Milner's large stake in Twitter. Kanton had almost no investment in Twitter. DST Investment 3 also issued shares to Alisher Usmanov's Kanton that were used to support the Kremlin's investment in Facebook.
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VTB Bank
VTB Bank (Russian: ПАО Банк ВТБ, lit. 'PJSC Bank VTB'; formerly known as Vneshtorgbank, Внешторгбанк, lit. 'International Trade Bank') is a Russian majority state-owned bank headquartered in various federal districts of Russia; its legal address is registered as St. Petersburg. As of 2022, over 90% of the company's capital stock was owned by three Russian agencies.
VTB Bank and its subsidiaries form VTB Group – a leading Russian financial group uniting VTB banks located in different countries and offering a wide range of corporate banking services and products in Russia, CIS, Europe, Asia, Africa, and the US. As of April 2025, VTB had a Chinese subsidiary which operated a branch in Shanghai.
VTB was ranked 446th on the FT Global 500 in 2011. The Financial Times’ annual snapshot of the world's largest companies. It climbed to 210th in the ranking of the 500 largest companies in Europe, the FT Europe 500 2014, and to 127th in the FT Emerging 500 2014, the list of the 500 largest companies in the world's emerging markets. VTB Bank (PJSC) has 22 branches and 3 representative offices in 13 regions of Russia and 4 foreign countries.
VTB Bank was founded as Vneshtorgbank in 1990 with the support of the Russian State Bank and the Ministry of Finance. It was set up as a limited liability company with the aim of servicing Russia's foreign trade operations and promoting Russia's integration into the global economy.
In 2004, the bank acquired a majority stake of 85.8% in Guta Bank, which was reorganised into a retail bank, Vneshtorgbank 24 (VTB24). The bank also acquired the Armenian Armsberbank, which was later renamed VTB Armenia. In 2005, the bank acquired 75% plus three shares of the Promstroybank (PSB), which was reorganised as Bank VTB North-West and later became VTB's North-Western Regional Centre, and bought the Ukrainian bank Mriya, which was later merged with VTB Bank (Ukraine).[citation needed]
In 2007, the bank set up a subsidiary in Angola known as VTB África. The bank also took over Slavneftebank in Belarus and later renamed it VTB Belarus. In June, VTB became the first Russian bank to offer an initial public offering (IPO), raising $8 billion in what became the largest international banking IPO at the time.
In 2008, the bank acquired a 51% stake in AF Bank in Azerbaijan from AF Holding International, later renaming it VTB Azerbaijan. In 2010, the bank's board approved the phased acquisition of TransCreditBank from Russian Railways. In 2013, VTB carried out a secondary public offering (SPO) which raised 102.5 billion rubles ($3.3 billion) and diluted the Russian government's share in VTB from 75.5 percent to 60.9 percent. In 2022, VTB Bank extended a 630 billion ruble ($11.06 billion) credit line to be used for the purchase, repair and modernisation of the country's railway infrastructure.
In 2011, VTB invested more than $191 million for shares in the Isle of Man company DST Investment 3 which was roughly than half of the funds in Yuri Milner's DST Global. This led to Milner's large stake in Twitter. Kanton had almost no investment in Twitter. DST Investment 3 also issued shares to Alisher Usmanov's Kanton that were used to support the Kremlin's investment in Facebook.