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JSC VTB Bank, originally founded in October 1990 as Vneshtorgbank (International Trade Bank), emerged in the final years of the Soviet Union as a limited liability company with the explicit backing of the Central Bank of Russia and the Ministry of Finance. Its foundational mandate was to service the Russian Federation's foreign trade operations, thus playing a critical role in promoting Russia's integration into the nascent post-Soviet world economy. Today, the institution operates as a Public Joint-Stock Company (PJSC), trading on the Moscow Exchange (MCX: VTBR). It remains a cornerstone of the state-controlled banking sector, with the Russian Federation holding a majority stake, typically through the Federal Agency for State Property Management.

As one of Russia's largest and most significant financial groups, VTB's general importance is rooted in its extensive operations across retail, corporate, and investment banking, serving as a key vehicle for state economic policy and the financing of major industrial and energy projects. Its significance within the Indian financial system is specific and strategic: it was the first Russian bank to establish operations in India, opening an office in New Delhi in 2005. In this capacity, JSC VTB Bank (India) functions as a crucial financial bridge, specializing in bilateral trade finance, facilitating direct rupee-rouble transactions, and providing full corporate banking services to support the growing India-Russia trade corridor, particularly in areas like energy, infrastructure, and defence.