Corporate culture and internal communications

The VTB Group’s new Development Strategy for 2019–2022 laid the foundations for further developing the corporate culture and internal communications.

In April 2019 the VTB Group revised its mission and vision statements and values. The year saw a series of dedicated on-site meetings take place all across Russia, involving more than 4,500 participants in 10 cities. An online broadcast of the Group management’s presentation on the new strategy, mission, and values raked in over 12,000 views.

Gleb Yermakov

Gleb Yermakov
Head of Human Resources, Senior Vice President

In updating our values, we looked into our team’s behaviour and operation to find the benchmarks and attitudes we need to achieve the goals envisaged by our ambitious business strategy on the one hand and to culturally integrate people of various professions, ages, and experience on the other, with an ultimate view to achieving our shared objectives. We needed to find the cultural code that would help us reach our goal, building on our strengths and clearly understanding our areas for improvement.

Internal communications

In 2019, VTB put strong emphasis on developing and reinforcing internal communication channels. The Bank put an updated intranet portal into service that proved a convenient tool and improved communication among divisions of the Bank’s parent company and network. It also boosted employee efficiency by providing employees with uniform access to information resources and services (including from mobile devices) and by incorporating self-service technology. Work on the new intranet portal is expected to continue until late 2020.

The editorial style and design of Team Spirit magazine were revised. The publication frequency increased from four to six issues a year. The magazine is now accessible electronically (including on mobile devices) as well as on hard copy.

Evaluating employee engagement

In the autumn of 2019, VTB surveyed employees both in and outside Russia to measure the employee engagement index using, for the first time, a single method across all participating Group companies. The Group employee engagement index stood at 83%, indicating, according to the research method, that employees understand the Group’s strategic goals, mission, vision, and values and that they have the resources necessary to make an extra effort in order to achieve their goals. The findings identified both strengths and areas for improvement. The strengths included:

  • Engagement with line management
  • Accessible information
  • Adequate authority to complete assignments
  • Strong team spirit

At the same time, employees pointed out some areas for improvement, such as the need to make the change process faster and more efficient, support employee initiatives, and streamline workflows.

The findings will provide the basis for a roadmap to be developed in the first quarter of 2020 in order to further improve employee engagement and, therefore, efficiency.

The VTB Group is aware that having an efficient corporate culture is a key to the successful functioning of the Group’s business. That is why VTB hosts a lot of team-building and sporting events, involving both employees and their families. In 2019, VTB held more than 300 IC events attended by a total of over 20,000 employees.


Volunteering is becoming an increasingly customary and indispensable practice in VTB’s corporate culture every year. Traditionally, employees helped disadvantaged adults and children, single retirees, and other people in need of support.

VTB BANK’S SELECT VOLUNTEERING INITIATIVES IN 2019The centralised initiatives listed are handled by the HR Department. Every year, employees also take the initiative to organise their own volunteering projects.
Initiative Description
New Year’s Eve Day for children from orphanages and hospitals 500 participants
430 New Year presents
School supply assistance for low-income families 400 participants
Form I Pupil Kits for 225 children
Children’s Day assistance 245 participants
Sports gear and stationery supplies for 220 children at schools and hospitals
No One Is Forgotten 80 participants
Support and presents for 30 World War II veterans
Support for orphanages and disadvantaged children 50 participants
Clothing and stationery supplies for 150 children
Concerts and collaborative activities
Support for disadvantaged people 50 participants
Warm clothing for 60 disadvantaged people

Group companies also took an active part in volunteering campaigns. Vozrozhdenie Bank employees took part in several major campaigns, including blood donation (141 employees), financial support for about 200 orphan children (179 participants), and support for 450 animals at an animal shelter (85 participants). In addition to customarily supporting orphan children, Zapsibkombank employees took part in the 5th Russian Financial Literacy Week for children and adolescents, hosting a total of 42 events for over 1,000 participants.