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    VNESHTORGBANK BOARD OF DIRECTORS HEAD REPORTS 2003 PERFORMANCE TO PUTIN

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    MOSCOW, JANUARY 14. /RIA NOVOSTI / -- Andrei Kostin, chairman of the Vneshtorgbank /Foreign Trade Bank/ board of directors, has reported to Russian President Vladimir Putin on results of the bank's development in 2003.

    Kostin said to the head of state that Vneshtorgbank's profit was 460 million dollars. "It is a record indicator as regards the international standards", Kostin said.

    "The bank's growth indicator was between 60 and 70 percent, with the public accounts increasing by 60 percent", added the chairman of the Vneshtorgbank board of directors.

    According to Kostin, this year the bank is going to increase the volume of crediting for small- and medium-scale business, as well as simplify the procedure of getting credits.

    Vneshtorgbank is Russia's largest commercial bank in the size of authorised capital --- 42.1 billion roubles. Its largest share-holder (99.9 percent) is the Russian government.

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