ABOUT VTB GROUP
The VTB Group is Russia’s second largest financial group and a leader in the global financial services market. The Group comprises over 20 financial and credit organisations operating across all major segments of the financial market.
The Group operates outside Russia through subsidiaries and associated banks that are located in a number of countries in the CIS, Europe, and Asia, which supports the development of international cooperation and the promotion of Russian companies in global markets. At the end of 2019, the Group’s banking and investment banking business was active in 18 countries around the world.
The year 2019 became momentous for the VTB Group: target performance indicators for the prior strategy were achieved ahead of schedule, and in late April the VTB Group’s Supervisory Council approved the Group’s new Development Strategy for 2019–2022. The strategy is built around three main priorities:
- Intense growth of the banking business, complemented by initiatives related to the digital economy;
- A focus on the interests of our clients and service quality;
- New trends: increased efficiency, digitalisation, and advanced technologyDetailed information on the Development Strategy for 2019–2022 is available in the VTB Group’s Annual Report for 2019..
First Deputy President and Chairman of the Management Board, VTB Bank
The Group’s leadership did a great job in 2019, having thoroughly analysed the development path of the Russian banking market and opportunities for the VTB Group to strengthen its position. This enabled us to set new ambitious goals to significantly enhance our business model. Our new development strategy must be implemented based on significant internal transformation. That is why Group executives found it necessary to update our mission, vision, and values while maintaining our focus on the transparency of the Bank’s corporate governance system and the Group’s high business ethics standards.
Another achievement in 2019 was the completion of a merger of VTB Bank’s corporate and retail regional networks, which resulted in sales growth across both corporate and retail segments, cost optimisation, and an increase in ROE.
Among the most significant developments in the reporting period was an update to the Group’s mission, vision, and values.