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VTB intends to invest at least 43 million dollars to subsidiaries in Belarus, Georgia

The subsidiary will place 1.4 million shares worth 300,000 Belorussian rubles each

© ITAR-TASS/Maxim Shemetov

MOSCOW, December 23. /ITAR-TASS/. VTB said it intended to invest at least $43 billion to bank subsidiaries in Belarus and Georgia.

The VTB Supervisory Board has decided to increase the stake of VTB Bank in Belarus up to the sum equivalent to $37 million (Belarus National Bank) at the date of shareholders’ decision. The subsidiary will place 1.4 million shares worth 300,000 Belorussian rubles each.

VTB is also considering a possibility to increase the stake of VTB in Georgia by $6.4 million by issuing 11 million shares with a nominal value of 1 Georgian lari. Lately VTB has increased the stake of the Georgian subsidiary in September 2013 — at the amount of $7.4 million.

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