Gazprom and VTB Bank discuss cooperation

A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Andrey Kostin, President and Chairman of the VTB Bank Management Board, was held today in Moscow.

The parties discussed the prospects for further cooperation between the Company and the credit organization. In particular, they touched upon VTB Bank’s role in arranging financing, including project financing, for the needs of member companies of the Gazprom Group.

Background

VTB Bank and its subsidiary banks and financial organizations (VTB Group) are an international financial group that provides a wide range of financial and banking services in Russia, CIS countries, Western Europe, Asia, and Africa.

VTB Bank provides all its banking services through an extensive regional network. The Group’s subsidiaries provide leasing, factoring, and other financial services. The international network of the VTB Group comprises over 20 banks and financial companies in more than 20 countries.

As of December 31, 2018, with its assets totaling RUB 14.760 trillion and clients' deposits of RUB 10.403 trillion, the VTB Group was Russia’s second largest financial group.

Gazprom and VTB Bank are longstanding partners. In particular, the VTB Group assisted in the placement of Gazprom’s bonds in Russia and abroad, as well as provided the Company with corporate financing.