"VTB" is coming - second largest banking institution in Russia to start business in Serbia

According to today's "Novosti", Gazprom Bank and Russian national bank Vneshtorgbank, also known as VTB Bank, will soon arrive in Serbia. The way in which these two large banks intend to enter Serbian market has not been specified yet, but it can be either through takeover of some smaller Serbian bank or independently.

This is what the representatives of Serbian and Russian business delegations agreed on in principle in Belgrade.

In addition to these Russian banks, the arrival of several Russian investment funds, as well as one insurance company, is also possible.

VTB Bank is the second largest bank in Russia and a member of VTB Group whose Administrative Board is chaired by Aleksej Kudrin, the Deputy Prime Minister and the Minister of Finance of Russian Federation.

VTB Bank has daughter companies in Frankfurt, Vienna, Paris, London, and Singapore, and it also operates in Zurich and Limasol under the name of "Russian Commercial Bank".

The bank has recently become the co-owner of Moscow's football club "Dinamo".