VTB launches Indian branch

VTB Bank has launched a new branch in New Delhi, India in an effort to continue to support trade relations between Russia and India.

The branch builds on existing relations between VTB and Russia. The bank already has correspondent relations with over 30 banks, including key state-owned banks such as State Bank of India, Canara Bank, ICICI, Punjab National Bank, Bank of Baroda, Bank of India and Reserve Bank of India.

VTB is also working with the Indian partners of Atomstroiexport, an existing customer of the bank, on a number of contracts to build two 1000 mega watt units at the Kudankulam nuclear power plant in India worth US$1,812mn.