VTB Plans 2 Aquisitions In 2011: Bank Of Moscow And Transcreditbank

The second largest state bank of Russia VTB expects to buy controlling stake or 100% of the Bank of Moscow in the first half of 2011, said the Head of the bank Andrey Kostin.


In this deal he sees the "greater synergy." "We have a total of 70 retail offices in Moscow, the Bank of Moscow - 140, Sberbank of about - 700. From the standpoint of the Moscow market it will add to our group positions perhaps on other regional markets."


Kostin believes that the coming year is only two acquisitions of Transkreditbank and Bank of Moscow.

Sberbank Contracts Visa to Create New Services for Sochi-2014

General partners of the Olympic Games in Sochi 2014 - Russian Sberbank and Visa International Company signed an agreement on cooperation and establishment of new financial services for participants and guests of Sochi Olympic Games.

By 2014 there will be prepared a special financial product, probably in a mobile form. Any financial transaction will be made by means of a mobile phone, through internet banking and payment terminal.

 Sberank also plans to prepare the target products for different categories of Olympic clients ranging from athletes and ending with the tourists. 

"We are segmenting customers - athletes, coaches, team organizers. They come (to play) with large sums of money, they have a lot to buy. They face restrictions on cashing in, they have large financing needs and the need to interact with the trading infrastructure. Now  there is no centralized service orientation. We divide customers into segments that will map the needs and create products for different target groups" -

the head of Sberbank German Gref stated. 

It is the first-ever global Olympic sponsorship partner, who for four years prior to the game signed an agreement with a local bank, regulating in detail all further relations to develop  financial infrastructure.

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