Rosimushchestvo proposes that VTB consider creating JV with Russian Post - newspaper
MOSCOW. June 1. (Interfax) - Russia's Federal Property Agency (Rosimushchestvo) has proposed that VTB consider the possibility of creating a joint venture with Russian Post, the newspaper Kommersant reported with reference to a letter from Rosimushchestvo's deputy chief Gleb Nikitin to the bank.
In his letter, Nikitin said that Rosimushchestvo is executing a letter from the Russian president's management on working with citizens on an appeal received by the presidential administration via e-mail from Russian citizen Dmitry Tretyakov. A source in the Kremlin administration told Kommersant that Tretyakov's appeal was registered on May 2, adding that he was "surprised that the appeal has even made its way into the work of the state apparatus and reached VTB."
Tretyakov told Kommersant that he is not a shareholder in VTB, but as a Russian Post client, he is concerned by the disastrous state of its regional divisions. VTB could launch a pilot project with Russian Post in one of the regions, he believes.
VTB declined to comment on the subject of possible cooperation with Russian Post.
"No such proposal was received for Russian Post's consideration. In any case, the issue of creating a postal bank is at the Russian government level, a decision on which we will fulfill. From our side, we believe that such a bank is needed and that it is time to create one. The window of opportunity has not yet closed. We hope that with the arrival of a new minister, this process will go forth more actively," Russian Post told Kommersant.
Experts note that such a joint venture could serve as an alternative project to the creation of a postal bank, which Vnesheconombank (VEB) has been working on since the end of 2009. There are plans to create the postal bank on the basis of Sviaz Bank (99% belongs to VEB) with the use of Russian Post divisions' infrastructure and with the participation of bank partners. The scheme for creating a postal bank has not been fully defined. Last week, the chairman of VEB's management board Vladimir Dmitriev said that the project has been temporarily shelved due to the fact that Russian Post is still not corporatized. The process of reorganizing Russian Post was supposed to be finished up in the first quarter of this year.