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Vnesheconombank Chairman Vladimir Dmitriev Awarded “The Success of the Year” Banking Prize by Version of Itogi Magazine and Fitch Rating Agency

21 november 2007 года
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Vnesheconombank Chairman Vladimir Dmitriev was awarded “The Success of the Year” Banking Prize by version of the Itogi magazine and the Fitch Rating Agency.

 

VREMYA NOVOSTEI 214 (1856)
22.11.07

This is a Needed Financial Market Instrument

Vice Premier and Finance Minister Alexei Kudrin said that Russian banks should double their investments in Russia’s fixed assets in the coming three years. “This is a conservative forecast for the development of our economy and it means that the Russian banking and financial system as a whole should double its efforts in terms of investing funds, quality of projects and risk management assessment. This is a substantial challenge,” Mr. Kudrin is quoted by ITAR-TASS as saying at the ceremony on the occasion of the Day of Banker ( it is organized by the Itogi magazine, the Fitch Rating Agency and the Russian Union of Industrialists and Entrepreneurs).

Kudrin said that investment in the infrastructure would, above all, involve state-run banks and especially Vnesheconombank (VEB). “The capital of the Bank for Development or Vnesheconombank of Russia which is becoming an important instrument of the country’s investment policy will show its worth, said Mr. Kudrin.

In his turn, VEB Chairman Vladimir Dmitriev said that the Bank for Development is increasing lending of the real sector: today the share of long-term credits (for a period of more than three years) exceeds 55% of the total amount of the Bank’s loan portfolio. But Vnesheconombank would be able to operate to its full capacity only after all necessary decisions have been made and its authorized capital has been formed, stressed Mr. Dmitriev. At yesterday’s ceremony the Bank for Development, which was established on the basis of VEB, was declared the prize-winner in the nomination “The Success of the Year.” Vladimir Dmitriev was presented with the Prize by Russian Council of Industrialists and Entrepreneurs Chairman Alexandr Shokhin.
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