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VTB plans to increase business volumes in Asia
In the presence of the President of the Russian Federation Vladimir Putin and the Chairman of the People’s Republic of China, Xi Jinping, a cooperation agreement was signed between VTB Bank and Bank of China. In accordance with the terms of the agreement, the parties plan to develop partnerships in various areas of interbank cooperation. In particular, the document provides for interaction between the parties in the area of settlements using national currencies, investment banking, interbank lending, trade financing and operations in the capital markets.
The document was signed by Vasily Titov, First Deputy President - Chairman of the Management Board of VTB Bank, and Chen Xitin, President of Bank of China.
Vasily Titov noted: "The signing of this agreement underlines the desire of VTB Group to increase the volume of business in Asia, and also creates favorable conditions for the further growth of trade and economic relations between Russia and China, which are traditionally reliable partners."