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VEB to bring support to businesses up to 250,000 mln RUR by '15

Dmitriyev said VEB is planning to channel at least ten percent of its profit into MSP-Bank capitalization

GORKY, January 12 (Itar-Tass) —Vneshekonombank (VEB) is planning to bring financial support to small- and medium-scale entrepreneurship up to 250,000 million roubles by 2015 through its subsidiaries and organizations, VEB chief Vladimir Dmitriyev said at a meeting headed by RF President Dmitry Medvedev on Thursday.

"As of the end of 2011, the overall scope of support to small- and medium-scale entrepreneurship by the State Development Corporation amounted to over 160,000 million rubles. We give this support through a network of subsidiary banks and other organizations, primarily through the bank supporting small and medium-scale entrepreneurship, MSP-Bank," Dmitriyev said.

VEB’s chief pointed out, "At one time, we planned to bring this support up to 250,000 million rubles in 2015. This task is realistic, considering other VEB's subsidiary organizations, through which this support is rendered".

Dmitriyev also said that MSP-Bank, which is, in point of fact, a commercial one, and abides by all the standards set by the Central Bank, "will be successively capitalized".

"So far, we have taken a decision on the capitalization of the bank out of the framework of the strategy of both VEB and MSP-Bank. We expect thereby that MSP-Bank will be capitalized every year at the expense of VEB’s profit -- there is an appropriate decision by the Supervisory Board," he said.

Dmitriyev said VEB is planning to channel at least ten percent of its profit into MSP-Bank capitalization.

First Vice-Premier Igor Shuvalov, Gazprombank Chairman of the Board Andrei Akimov, and Chairman of the Board of the "Bank VTB" Andrei Kostin were also present at the meeting.

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