December 19, 2014 11:04 AM ET

Banks

Company Overview of State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank)

Company Overview

State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank), a state corporation, provides banking and other financial services in the Russian Federation. The company funds and supports investment projects and industrial exports through credits, guarantees and sureties, participation in economic entities’ authorized capitals, leasing transactions, insurance of export credits, and financial and guarantee support for exports. It also offers support services for top-priority industries; assists in regional development; cooperates with international financial institutions to provide joint financing; and provides training in investment projects. In addition, the company ...

Akademika Sakharova Prospekt, 9

Moscow,  107996

Russia

Founded in 1924

Phone:

7 4957 21 18 63

Fax:

7 4957 21 92 91

Key Executives for State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank)

Chairman of Management Board and Member of Supervisory Board
Age: 61
Head of Internal Control Service Press Office
Chief Accountant and Member of the Management Board
Age: 59
Director of Banking Security
Deputy Chairman of Management Board
Age: 62
Compensation as of Fiscal Year 2014.

State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank) Key Developments

Vnesheconombank to Launch Electronic System of Supporting Russian Exports

In accordance with a decision taken in 2013 by the Government of the Russian Federation, Vnesheconombank was appointed as coordinator for activities on providing comprehensive support for exports of Russian products, works and services and it is also responsible for considering requests for such support in a single window mode. The introduction of the internet portal Financial Support for Russian Exports has become a practical solution for the task set. Using this system, foreign purchasers of Russian products, works services and Russian exporters can apply to Vnesheconombank for obtaining funding. The said system provides for using personal account for registered users in which the applicant can keep track of his application consideration status on-line.

VEB and Two Capitals Highway LLC Sign a Memorandum on Cooperation

VEB and Two Capitals Highway LLC signed a Memorandum on cooperation and interaction in implementing the project on the construction and operation of a toll highway 'The High-SpeedMotorway Moscow - Saint Petersburg at sections km 543 -km 646 and km 646 - km 684'. Under the Memorandum VEB intends to explore the possibility of participating in funding the project through extending credit facilities to Two Capitals Highway LLC. Removal of economic growth restrictions including development of transport infrastructure is one of the Bank for Development's top-priority lines of activity. VTB Bank is also planning to participate in funding the construction of the motorway.

Vnesheconombank Reports Earnings Results for the Nine Months Ended September 2014

Vnesheconombank reported net loss of RUB 64.387 billion in the nine months ended September 2014 compared with a net profit of RUB 25.2 billion in the same period last year.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
October 13, 2014
Open Joint-Stock Company INTER RAO UES
Merger/Acquisition
October 3, 2014
LLC Interproject
Merger/Acquisition
August 4, 2014
LLC Interproject
 

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To contact State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank), please visit www.veb.ru. Company data is provided by Capital IQ. Please use this form to report any data issues.

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