SOFAZ: Loss of VTB subsidiary in Ukraine will be reduced to minimum - EXCLUSIVE

SOFAZ: Loss of VTB subsidiary in Ukraine will be reduced to minimum - EXCLUSIVE
  • Clock-gray 10:38
  • calendar-gray 01 May 2017

“Of course, as a VTB shareholder the bank’s financial stability and profitability figures are of huge importance to us and we’re carrying out an analysis of the bank’s current situation. The aforesaid matter also remains in the limelight and we’re in constant talks with the bank so as to study the current situation. Considering the ongoing analyses of the VTB’s current situation, as well as the total share of the asset in Ukraine in the total assets, we think the subsidiary bank will continue to operate in the long run,” he said.

 

In 2013 SOFAZ’s owned 2.95% share in VTB by buying $500 million bonds issued by VTB. SOFAZ Executive Director Shahmar Movsumov is an independent member of the bank’s Supervisory Board.

 

Since March 23, Kiev has applied one-year-sanction against five Russian banks in Ukraine. VTB subsidiary is also among these banks.

 

Earlier, Deputy Head of National Bank of Ukraine Kateryna Rozhkova said that Russian banks have no future in Ukraine. 

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