Vnesheconombank Participates in Financing the Purchase of Malev Airline by AirBridge Zrt Airline

25 april 2007 года
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Today on April 25, Vnesheconombank Deputy Chairman Sergey Lykov participated in a ceremony held in Budapest and devoted to transferring Hungarian Malev Airline’s shares to a new owner – AirBridge Zrt Airline. Hungary’s Finance Minister Janos Veres, executives and shareholders of AirBridge attended the ceremony

In mid April 2007, Vnesheconombank and AirBridge Zrt (Hungary) entered into an Agreement On Extending a Credit and Guarantees worth 102 million euros for a period of up to 10 years to finance the purchase of 99.95% of shares owned by the Hungarian national air carrier, Malev Zrt by AirBridge Company. Vnesheconombank acts both as a financing party and a consultant of AirUnion on developing Malev, streamlining the structure to finance the Hungarian airline’s business and on improving its financial standing.

The purchase of Malev airline will have a synergetic effect on expanding Russian and Hungarian airlines’ business by way of optimal use of resources and integrating Hungarian Malev’s networks and those owned by companies incorporated in AirUnion. Vnesheconombank on which basis a Development Bank for Foreign Economic Affairs is being established, is often turned to by Russian business for conducting structurally complicated transactions and implementing large-scale projects. 

AirBridge company representing the interests of Russian AirUnion’s private shareholders is the winner of the tender for privatizing Malev company organized by the Hungarian State Privatization and Asset Management Agency. In the course of the tender AirBridge offered the most efficient business plan to develop Malev. This plan enables the airline not only to maintain its current status but also expand its presence in the international air transportation market.

 

Origin: Press Office of Vnesheconombank
Contact person: Svetlana Nikitina
Phone: +7 (495) 208-46-93, Fax: +7 (495) 975-21-34
E-mail: press@veb.ru

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On Holding Conference “Man as Capital. Management Technologies and Efficiency Assessment”

24 april 2007 года
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The Second International Interbank Conference “Man as Capital. Management Technologies and Efficiency Assessment” (Russian and foreign best practices) was held in Moscow on April 24, 2007. The Conference was organized on the initiative of Vnesheconombank, Gazprom and the International Moscow Financial and Banking School.

Participants in the Conference discussed unique technologies acquired by banks in assessing and retaining human capital and exchanged best practices in personnel management. Human resources management bank executives spoke on the following subjects: a system of personnel assessment as a means of implementing banks’ strategies effectively, practical diagnostic methods of assessing bank employees’ loyalty, attracting and retaining key specialists, personnel expenses planning, methods of providing employees with in-kind incentives and others.

Speaking on the subject “Human Capital’s Contribution to Increased Level of Banks’ Capitalization” Vnesheconombank’s Administrative Department Director, Sergei Nosov said that “human resources management is of paramount importance to Vnesheconombak now that a Development Bank is being established on its basis. And here Vnesheconombank’s potential and not only its level of capitalization, its international image and its expertise in conducting very complicated credit and financial transactions but its human capital as well play a crucial role.”

More than 150 representatives of the largest Russian banks, financial analysts and experts participated in the Conference. The participants in the conference made a decision to uphold a tradition of exchanging best practices in human capital management by holding annual international conferences.

 


Origin: Press Office of Vnesheconombank
Contact person: Svetlana Nikitina
Phone: +7 (495) 208-46-93, Fax: +7 (495) 975-21-34
E-mail: press@veb.ru

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