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Russia’s VTB Bank may delist from London Stock Exchange

November 10, 2014, 12:36 UTC+3
According to the bank head Andrey Kostin, VTB is currently in talks on raising a loan through an Asian bourse
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BEIJING, November 10. /TASS/. VTB Bank, Russia’s second largest bank by assets, may quit the London Stock Exchange and is currently in talks on raising a loan through an Asian bourse, VTB CEO Andrey Kostin said on Monday.

“We hope that they (the talks with the London Stock Exchange) will remedy the situation. If not, we’re considering a scenario of quitting the exchange,” he said, adding that delisting was also possible.

VTB’s claims to the London Stock Exchange are related to the bourse’s enhanced requirements for the lender, which are tighter than the US sanction requirements, the VTB head said.

VTB Bank is simultaneously holding negotiations on raising a syndicated or a subordinated loan on Asian trading floors.

“The situation will somehow clarify or be resolved soon,” Kostin said.

The VTB head mentioned the Japanese and the Shanghai Stock Exchanges as possible trading floors for raising loans. In particular, the Shanghai Stock Exchange may be of interest, considering restrictions created for VTB on the London and New York Stock Exchanges, the VTB CEO said.

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