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Russia's VTB bank considers entering Shanghai Stock Exchange — CEO

March 30, 2015, 10:53 UTC+3 BOAO
The bank is still working on the London Stock Exchange and hasn’t decided to leave it
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© Mikhail Japaridze/TASS

BOAO, March 30. /TASS/. VTB considers entering Shanghai Stock Exchange, VTB president Andrey Kostin told journalists at the Boao Forum for Asia.

According to Kostin, currently the Shanghai Stock Exchange has the same weaknesses as the Western stock exchanges in terms of sanctions. In addition, the bank is still working on the London Stock Exchange and hasn’t decided to leave the marketplace.

However, "three stock exchanges - is too much, it creates additional volatility in the stock movement," Kostin said.

"So we are working these issues out. Entering the Shanghai Stock Exchange is a very promising prospect, although more complicated. It is an internal Chinese demand. I do not think we will achieve anything in Hong Kong in the near future," VTB President said.

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