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Russia’s VTB may borrow 200 billion rubles on Asian markets — CEO

May 23, 2014, 14:01 UTC+3 ST. PETERSBURG
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ST. PETERSBURG, May 23. /ITAR-TASS/. Russia’s VTB Bank considers borrowing up to 200 billion rubles on Asian markets if the government decides to convert subordinated loans into Tier-1 capital, CEO Andrei Kostin said Friday at the St. Petersburg International Economic Forum.

“This issue is discussed, our position is positive. We also plan an additional subordinated loan which we could take on the market. If the conversion into Tier-1 capital happens, we will consider taking an additional subordinated loan. We plan to get to Asian and Arabic markets,” Kostin said.

Kostin separately said that VTB has no plans to shut its Ukrainian business down despite the political crisis in the country but there are also no plans to extend the business.

 

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