OREANDA-NEWS. April 10, 2008.Strategic highlights. IPO in May 2007 raised almost US\\\$ 8 billion, reported the press-centre of VTB.

Gained market share in all core business lines

Opened 165 new VTB24 retail branches

Began integration of VTB North West

Continued expansion into CIS countries

Extended capability to support clients outside CIS in Angola, India, and China

Strengthened corporate governance

Optimised organisational structure and processes to reflect the new public company status and to deliver on strategic objectives

Financial Highlights
Total assets increased 76,7% to US\\\$92,609 million

Net income increased 28,4% to US\\\$1,514 million, driven by strong growth of the loan portfolio

Doubling of total net loans and advances to US\\\$ 58,549 million

Tripling of retail gross loans to US\\\$7,682 million reflecting success of retail roll-out

Core income (including net interest and fee and commission income before exceptional item) increased by 48% to US\\\$3,056 million

Earnings per share increased 10,6% to the equivalent of 48,2 cents per 1 GDR or 2000 ordinary shares

Further improved high quality loan portfolio

Reduced proportion of overdue and rescheduled loans to total loans to 1,4% from 2,1%

Reduced total provision charge as a proportion of average gross loan portfolio to 1,3% from 1,8%

Cost to income ratio increased to 53,6% from 50,8% driven by investments in VTB24 retail network

Strengthened capital base with BIS Tier 1+2 ratio at 16%, confirming solid foundation for further asset growth, a particular advantage in current market conditions

Andrey Kostin, President and Chairman of the Management Board of VTB Group commented:
“This is our first annual results announcement as a public company and we are delighted to be able to demonstrate VTB’s strong financial health.  We have delivered on our objective of growing faster than the market.  We have seen our investment in retail and corporate banking in Russia bear fruit. We have also begun building an investment banking capability to leverage our unique strengths as the bank of reference for Russia and the CIS.  VTB is well positioned in these fast-growing markets, and we are continuing to build strong foundations for longer term growth.  Our Agenda by 2010 remains unchanged.”

31 December 2007 Financial Results Presentation 2007_VTB_IFRS_Presentation_en.pdf