ST. PETERSBURG, December 29 (RIA Novosti) -- The Russian state-owned foreign trade bank, Vneshtorgbank (VTB Group), concluded a deal on purchasing the Central Bank's stakes in Russian banks operating abroad, VTB President Andrei Kostin said Thursday.
According to the agreement, signed December 21, all of the Central Bank's capital and deposits in Russian overseas banks are to be transferred to the VTB Group.
Andrei Kostin said the main aim of the VTB in 2006 would be the consolidation of the work of all banks operating abroad.
"Next year we plan to purchase banks in all member countries of the Commonwealth of Independent States," he said.
VTB Group's growing presence in Western Europe is aimed at attracting foreign investment in Russia's economy and promoting Russian investment abroad.
