Putin discusses Russia’s economy growth with ministersBusiness & Economy September 24, 2:38
Lavrov warns against partition of SyriaRussian Politics & Diplomacy September 23, 0:00
Lavrov calls to coordinate Russian, US military action in SyriaRussian Politics & Diplomacy September 22, 21:05
Lavrov blames Obama administration for souring Russia-US tiesRussian Politics & Diplomacy September 22, 20:41
Waging war on Korean Peninsula inadmissible, says LavrovRussian Politics & Diplomacy September 22, 20:36
Russian Northern Fleet completes drills in ArcticMilitary & Defense September 22, 18:01
OPEC and non-OPEC countries to continue talks on oil production cut dealBusiness & Economy September 22, 17:28
Russian pair figure skaters Kavaguti, Smirnov retire from sportSport September 22, 16:48
Record number of delegations register for St. Petersburg-hosted IPU AssemblyRussian Politics & Diplomacy September 22, 16:47
MOSCOW, May 20. /ITAR-TASS/. Russian commercial bank VTB and Bank of China have signed a memo on cooperation, in particular, about payments in national currencies, the VTB’s press release says.
The sides are going to develop partnership in different fields of interbanking cooperation, including investment banking, interbank lending, trade financing and capital market transactions.
The memo was signed by the VTB’s First Deputy President Vasily Titov and Bank of China’s President Chen Siqing in the presence of Russian and Chinese Presidents Vladimir Putin and Xi Jinping.
The VTB Group is Russia’s second largest bank group comprised of more than 30 banks and financial companies in more than 20 countries. The government has a 60.9% stake in the VTB capital. VTB stocks are traded on the Moscow and London Stock Exchanges.
The VTB’s total assets as of December 31, 2013 totalled 8.8 trillion rubles ($254 billion). Its net profit according to the International Financial Reporting Standards (IFRS) increased 10.9% to 100.5 billion rubles ($2.9 billion).