VTB to form partnership with one of Ukraine’s largest banks

By Andrei Skvarsky

Russia's VTB Group will form a partnership with Ukreximbank, one of Ukraine's largest banks, under an agreement to be signed by the two countries' presidents early this week, the Kommersant-Ukraine newspaper said.

Set up in 1992, Ukreximbank is a fully state-owned trade bank offering a wide range of services, including retailing, lending to smaller, medium-sized and larger businesses, and investment. The Kyiv-based institution has branches practically throughout Ukraine and correspondent relations with various banks in Europe and the US. It acts as a government agent in implementing export support and trade finance programmes.

Russian President Dmitry Medvedev and his Ukrainian counterpart, Viktor Yanukovych, will sign the VTB-Ukreximbank partnership deal during a two-day visit to Ukraine that Medvedev is beginning today. The two leaders are expected to announce a series of joint ventures and alliances across energy, transport and other sectors.

By Andrei Skvarsky Russia's VTB Group will form a partnership with Ukreximbank, one of Ukraine's largest banks, under an agreement to be signed by the two countries' presidents early this week, the Kommersant-Ukraine newspaper said. Set up in 1992, Ukreximbank is a fully state-owned trade bank offering a wide range of ...