Russia's VTB officially operates in Serbia as of today

Russia's VTB Bank has announced in a release that its business activities in Serbia officially begin today.

In April 2013 this bank became a 100-percent owner of Bank of Moscow Belgrade, which has been a member of the VTB Group since 2011.

VTB Bank, which is majority owned by the state, is the second largest bank in Russia and is a member of the VTB Group.

VTB Group renders global financial services, including banking operations with physical and juristic persons, as well as investment banking, brokerage and other similar services, insurance, management of pension and other funds, factoring, leasing, etc.

The group owns a large international network that offers a comprehensive spectrum of services to clients in more than 20 countries in Europe, Asia, and Africa.