VTB has confirmed that jointly with Deposit Insurance Agency, or DIA, and the Central Bank of Russia it supports Bank of Moscow as it deals with problems resulting from the actions of the bank’s former top management. VTB is ready to grant up to RUB 100 billion to Bank of Moscow.
We are confident that, due to the joint actions of VTB and the Russian government, Bank of Moscow will quickly resolve these temporary problems and attain a new level of performance. Bank of Moscow has great potential. The Moscow city government remains the bank’s core client, while its higher efficiency is secured by cooperation with VTB Group.