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Chita
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Vladivostok
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Moscow

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VTB intends to develop business in China

VTB is currently the only Russian bank operating in the PRC. In 2013, 194 letters of credit transactions totaling US $ 271 million were carried out, reports IA YASIA. This is more than half of all such transactions of the subsidiary banks of the group in the CIS market. “So China has become not only a key market for VTB, but also a home market,” commented Mikhail Yakunin, head of the subsidiaries department, VTB Bank Senior Vice President, “VTB has come to China for a long time. The PRC is an important trading partner of Russia, and we are making very ambitious plans for the further development of business in this region. "

The VTB branch in Shanghai has been a conductor of Russian business in China since 2008. In April, the branch 2014 received permission to conduct international operations in the Chinese yuan, and this allows the branch to fully serve the trade and economic relations of Russia and China in national currencies.

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