VTB

VTB Bank, legally Vneshtorgbank (VTB), is a Russian state-controlled multinational bank headquartered in Moscow. It is the core of the VTB Group, one of Russia’s largest banking and financial services companies with operations across Russia and in multiple regions abroad.

Founded in 1990 as Vneshtorgbank, the institution expanded through growth and acquisitions to become a systemically important lender. The VTB Group encompasses commercial banking, investment banking (VTB Capital), asset management, insurance, and other financial services.

Ownership and governance: The Russian government, primarily through the Federal Property Management Agency (Rosimushchestvo), holds a controlling stake in the group. The remainder is held by private investors, and the board includes government representatives alongside senior executives.

Operations: The bank provides retail and corporate lending, deposits, payments, and trade finance, as well as cash management and related services. It also offers investment banking, capital markets, asset management, brokerage, and insurance services. VTB operates a nationwide network in Russia and maintains international offices and subsidiaries across Europe, Asia, and the Commonwealth of Independent States.

International presence and sanctions: VTB has faced sanctions from the United States, the European Union, and other jurisdictions since 2014, restricting access to Western markets and financing. In response, the group has pursued expansion in Asia, the Middle East, and other non-Western regions to diversify its footprint.

Status: It is among the largest banks in Russia by assets and loans and is listed on the Moscow Exchange under ticker VTBR. Western listings and certain international activities have been affected by sanctions.