In response to media enquiries, VTB states that it has not sent the government a request for state support signed by one of the bank’s senior executives.
We would note that only the CEO or acting CEO of the bank has the authority to sign such a letter.
Further, VTB is not experiencing any problems with liquidity. The Group is fully compliant with the capital adequacy regulations of Russian and international regulators. As a result of the recent decision to convert subordinated debt into preference shares, the Group expects its capital adequacy to significantly increase.