Vneshtorgbank head appointed

The supervisory board of Vneshtorgbank appointed head of Vneshekonombank Andrey Kostin to the post of the President and the CEO of Vneshtorgbank, a representative of Vneshekonombank reported to RBC.

During the latest meetings with Russian President Vladimir Putin, Prime Minister Mikhail Kasyanov and Chairman of the Central Bank Sergey Ignatyev, Chairman of Vneshekonombank Andrey Kostin was suggested to become the head of Vneshtorgbank.

"This decision is considered in the context of the strategy of state bank development, suggested by the government and the Central Bank and approved by the President. This strategy is aimed at the optimization of the structure of banks with a state share", the press service of Vneshekonombank stressed. First of all, the strategy suggests the merger of the banking business and the own capital of the two largest state banks, Vneshtorgbank and Vneshekonombank, and forming a debt agency of the Russian Federation on the basis of the Vneshekonombank of the USSR, the press service of Vneshekonombank pointed out.

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