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Russia's VTB Bank in Talks on Selling Ukrainian Subsidiaries – VTB President

© REUTERS / Maxim ZmeyevThe logo of VTB Group is seen through a window of Imperia Tower on the facade of the Federatsiya (Federation) Tower at the Moscow International Business Center also known as "Moskva-City", in Moscow, Russia, in this August 5, 2015 file photo
The logo of VTB Group is seen through a window of Imperia Tower on the facade of the Federatsiya (Federation) Tower at the Moscow International Business Center also known as Moskva-City, in Moscow, Russia, in this August 5, 2015 file photo - Sputnik International
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Russia's VTB bank is holding negotiations on the issue of selling its subsidiaries in Ukraine, VTB head Andrei Kostin said Friday.

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MOSCOW (Sputnik) — At the moment there are two VTB's subsidiary banks in Ukraine, namely VTB Bank (Ukraine) and BM Bank.

"The group's plans have not changed. But at the moment it is not very easy task to sell the banks…. If we are able to sell them either separately or together, we will sell them. Such activities are in progress, at the moment several negotiation processes on the issue are ongoing," Kostin told reporters.

If it is possible to sell the subsidiaries separately or together, it will be done, he added.

"The work is in progress, we have several negotiation processes along the way. We want to get back the cost of capital — that's our goal," the head of VTB stated.

He stressed that the closure of a bank without clearing debts was out of the question. "In no sense do we want to leave with leftover debts. This is our reputation. To close means to transfer the assets, liabilities to VTB Bank, to serve customers. This will be done," Kostin stressed.At the same time, Kostin added that the bank was considering the possibility to buy two small regional banks in Russia.

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