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Russian VTB to recapitalize its Ukrainian subsidiary for UAH 2.6bn (USD 98mln)

The supervisory council of VTB approved the injection facility

The supervisory council of VTB bank approved UAH 2.6bn (USD 98mln) recapitalization plan for Ukrainian subsidiary VTB. The funds will be replaced by the interbank loans obtained several years ago. Earlier, VTB bank actively studied possibilities of changing its strategy at the Ukrainian market. At this, VTB did not plan to exit the market. VTB will continue to invest in operational efficiency and stick to the market despite interests from investors for the takeover, told the chairman of the bank Konstantin Vaisman. Before, VTB announced that it would probably close all its branches in the country remaining with the headquartered representative office in capital Kyiv city. 

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