The head of VTB believes “labor of Sisyphus” the sale of Ukrainian “daughters”

The head of VTB believes “labor of Sisyphus” the sale of Ukrainian “daughters”


TASS, July 13. VTB continues to seek buyers for its Ukrainian assets, however, this process is “labor of Sisyphus” because of the approach of the Ukrainian authorities. This statement was made Thursday on air of TV channel “Russia 24” Chairman of Board of Bank VTB Andrey Kostin.

“We are looking for a buyer, but I think that the approach, which uses the Ukrainian leadership and the national Bank, is a Sisyphean task. How can anything this stone to drag a mountain, but then the authorities will have to send back. Today we are looking for buyer and at the same time are pursuing a policy of reducing our costs, our business there, we will continue to look at,” he said.

Earlier, the head of VTB said that the group found buyers for the Ukrainian asset, but the deal was disrupted because of the position of the national Bank of Ukraine.

In March 2017, the President of Ukraine Petro Poroshenko for a year had introduced sanctions against five banks with Russian capital. Under the sanctions were Sberbank, VTB, Prominvestbank (owned Vneshekonombank), VS Bank (belongs to Sberbank through the European “daughter” of Sberbank Europe) and BM Bank (owned by VTB).

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