The unveiling ceremony of the Vietnam-Russian joint bank subsidiary in Moscow was held on December, 14. Prime-Minister of Vietnam Nguen Tan Zung, Deputy Minister of Finance of the Russian Federation A.V. Novak, Deputy Chairman of the Central Bank of the Russian Federation V.N. Melnikov, President – CEO of VTB A.L. Kostin, Chairman of the Vietnam Cooperation Business Council M.V. Slipenchuk, and representatives of Russian and Vietnam business took part in the solemn ceremony.

VRB entry to the Russian market is aimed to strengthen bilateral trade and economic cooperation between Russia and Vietnam. The key activity of the bank will be providing a range of services such as import and export financing, international payments, corporate customers services to Vietnam companies, working in Russia. The equity capital of the bank subsidiary amounts to 210 million rubles.

Within the framework of the ceremony the Vietnam Cooperation Business Council and VRB Moscow signed the agreement concerning promotion and development of commercial and trading activities between Russia and Vietnam in spheres such as:
• project financing and promotion of investment cooperation between Russia and Vietnam;
• cooperation concerning Russian investments in Vietnam, providing consulting services in assessment, realization and controlling of investment projects;
• in-time information sharing concerning entrepreneurial, investment, trade and banking activities of the participants.