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VTB raises stake in VTB Bank Belarus to 97.37%

10 October 2013

VTB raises stake in VTB Bank Belarus to 97.37%.

VTB Bank has signed an agreement with the State Property Committee of Belarus to acquire the Belarusian government’s 25.95% stake in VTB Bank Belarus. Following the transaction VTB Bank will hold a 97.37% stake in its Belarusian unit.

“I am pleased that we have finalised the acquisition of this stake in VTB Bank Belarus,” said Vasily Titov, First Deputy President and Chairman of the VTB Management Board. “We now plan to recapitalise our Belarusian subsidiary to strengthen its presence in the local market across retail and corporate and investment banking. Stronger capitalisation will enable VTB Bank Belarus to join major projects of interest in Belarus.”

CIS, VTB Group

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