OREANDA-NEWS. October 21, 2011. VTB Shareholders Consultative Council (the “SCC”) held its regular twelfth meeting. Attending the meeting was Sergey Dubinin, Chairman of VTB Bank Supervisory Council, reported the press-centre of VTB.

Together with Sergey Dubinin, members of the SCC discussed their possible interaction with the Supervisory Council in issues most important for the Bank’s shareholders. Citing Sergey Dubinin, “The independent VTB Shareholders Consultative Council is a unique instrument in the Russian market. We believe communication with shareholders should be permanent. Therefore the functions and tasks the SCC is performing should not be underestimated”.

During the meeting, the SCC members also listened to a report of VTB Capital representative of minority interest acquisition in one of the largest out-of-home advertising companies - News Outdoor. The shareholders got economic details of the deal, and also learned about the Company’s current performance and its plans.

Dmitry Udalov and Tatyana Buravtseva, SCC members, reported on their meetings with VTB shareholders in Moscow and Krasnodar, and also commented the issues raised by the minorities at those meetings. The participants in the meeting discussed procedures for the Doors Open Days and field work-shops, the nearest of which is to be held on 27 October 2011, in Samara.

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VTB Shareholders Consultative Council is an independent body established in 2009 at the initiative of VTB Bank minority shareholders. The Council consists of 10 members elected by voting of the Bank’s shareholders. Heading the Consultative Council is Vladimir Tarachev, Doctor of Economics, and Professor of the Financial University under the Government of the Russian Federation. The first meeting of the Council was held on 30 July 2009.