Managing sponsorship and charity projects
VTB makes a solid contribution to the social and economic well-being of the regions where it operates, supporting professional and amateur sports, stimulating education and healthcare improvement, and taking care of cultural traditions.
In 2019, VTB Bank continued to provide extensive support for socially important projects through its sponsorship and charitable activities. The structure of these activities saw significant changes.
The Sponsorship and Charity Committee Policy was approved. The Committee processes sponsorship and charity support requests, develops proposals on the amount and structure of Bank expenditures associated with these activities, and approves sponsorship and charitable activity plans to be included in the Bank’s draft budget for the upcoming financial year. Since 2019, meetings of the Committee have been regularly conducted in a remote paperless format, saving time and paper.
Furthermore, the Sponsorship Policy and Charity Policy were updated. According to these two documents, basic principles followed by the Bank in these two areas are transparency, targeted focus, and efficiency of use of the allocated funds.
Large-scale targeted sponsorship and charity programmes
Since 2018, the VTB Group has adhered to the previously chosen approach in implementing six large-scale targeted programmes. VTB also has a subgroup of strategic projects (long-term projects of national significance).
In addition to working towards VTB’s goals, programme accounting helps Group companies organise their charity and sponsorship activities and pool their efforts to achieve the UN Sustainable Development Goals.In 2019, the Group’s spending on charity totalled RUB 9.6 billion , of which 85% was contributed by VTB Bank. In 2019, the Bank spent a total of RUB 16.3 billion on 562 projects, of which charity projects accounted for 50.3% (RUB 8.2 billion) and sponsorship projects totalled 49.7% (RUB 8.1 billion). Spending remained around the same level YoY.