Russia’s VTB bank intends to leave Ukraine

Source : 112 Ukraine

The management reacts to the Ukrainian government’s decision on sanctions against local branches of Russian financial entities
16:56, 16 March 2017

VTB Bank

VTB, one of the major Russian banks, plans to exit Ukraine – now that the NBU, the National Bank of Ukraine, promises more sanctions against the local branches of Russian banks.

Reuters reported that on Thursday.

‘Andrei Kostin, VTB CEO, also told reporters in Moscow that the new round of Ukraine sanctions on Russian state banks would harm all banks concerned and that VTB was in direct contact with the Ukrainian central bank,’ reads the message.

According to Kostin, the sanctions, which will ban Russian banks including VTB and Sberbank from taking money out of Ukraine, could 'affect the valuation of Russian banks' Ukrainian operations.’

Earlier, Ukraine’s national Security and Defence Council approved the presidential offer to impose sanctions against the branches of Russian banks located in Ukraine.

Source: Reuters

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