The VTB Shareholders Consultative Council recently held its first meeting of 2014.
The meeting was attended by President and Chairman of the Management Board Andrey Kostin, First Deputy President and Chairman of the Management Board Vasily Titov, and Alexander Kuznetsov, the senior vice president and head of the investment department of the bank's retail arm, VTB 24.
"In the current economic situation, our priorities lie with increasing business efficiency and cutting costs," Kostin said. "We have some fat that can be trimmed. We will focus on further developing the high-margin segments of the banking market - retail banking and lending to medium-sized businesses. We are also planning some major improvements in our IT systems."
Kuznetsov spoke about VTB 24's services in shares and FX, including security transactions on the Russian and international stock markets, international FX deals, and the buying and selling of mutual funds.
Participants also discussed the future development of VTB Group's brokerage services and approved the new edition of the VTB Shareholders Consultative Council Regulations.
The next council meeting is scheduled for April.
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