VTB24 Completes Branch Network Transformation

VTB24 was the first of the major Russian banks to complete its network reorganization, having given its branch offices the status of operating ones.

Tolyatti office was the last to be converted to the new status. VTB24 regional network structure now comprises seven base branches (according to the number of federal districts in the Russian Federation), 59 regional operating offices and 409 secondary subdivisions.

Operating status offices prove more efficient than conventional branch offices and are fully sales oriented. Additionally, service and back office functions (servicing of raised and invested funds portfolios, circulation of documents, reporting, etc.) are charged on base branches.

The transformation program was launched in 2007 in order to optimize the bank’s organization and to improve performance; it has helped to minimize regional network management costs, to boost controllability, to unify technologies and to improve customer servicing.

All in all, the two years of the program have reorganized 39 branch offices. In 2008, 20 branches were converted to the new status: in Bryansk, Gatchina, Yaroslavl, Kostroma, Petrozavodsk, Kaliningrad, Kursk, Astrakhan, Stavropol, Saratov, Penza, Cheboksary, Izhevsk, Yoshkar-Ola, Tyumen, Tomsk, Omsk, Bratsk, Ulan-Ude and Vladivostok. In 2009, the new status was accorded to 19 regional offices: in Orenburg, Smolensk, Syktyvkar, Archangelsk, Barnaul, Irkutsk, Smolensk, Kemerovo, Novomoskovsk, Tolyatti, Chelyabinsk, Rostov-on-Don, Krasnoyarsk, Belgorod, Volgograd, Perm and Ulyanovsk.

The optimization of the bank organization in no way affected customer service. Every kind of service to individuals and juridical persons are provided to the full extent and within the fixed time.