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VTB Group invests $300 mln in development of Bank VTB Azerbaijan

03 March 2015 15:40 (UTC +04:00)

Baku. Yegane Lachinzade - APA-Economics. President and Chairman of the Management Board of Russia’s VTB Bank Andrey Kostin has today met with Azerbaijani President Ilham Aliyev, APA-Economics reports quoting press service of Bank VTB Azerbaijan.

It was noted at the meeting that VTB Group is interested in business development in Azerbaijan.

KOstin noted that as at the end of 2014, VTB Group invested $700 mln in the development of Azerbaijan’s economy. Of this, $300 mln was spent to development of Bank VTB Azerbaijan, $400 mln to financing of transport and communication projects.

Moreover, Kostin met with the chairman of the Central Bank of Azerbaijan Elman Rustamov. They noted that 7 sale points were launched in 2014 and a branch in Ganja in 2015.

Kostin said that Bank VTB is ready to meet demand for AZN 50 mln capital.