 In 2004, the bank acquired a majority stake of 85.8% in Guta Bank, which was reorganised into a retail bank, Vneshtorgbank 24 (VTB24).The bank also acquired the Armenian Armsberbank, which was later renamed VTB Armenia.In 2005, the bank acquired 75% plus three shares of the Promstroybank (PSB), which was reorganised as Bank VTB North-West and later became VTB's North-Western Regional Centre, and bought the Ukrainian bank Mriya, which was later merged with VTB Bank (Ukraine).