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VTB sells Belarusian subsidiary to local regulator

29 October 2014


On 28 October, VTB Bank signed an agreement in Minsk to sell 100% of its shares of Bank of Moscow-Minsk to the National Bank of the Republic of Belarus.

"We are happy to announce that VTB Bank has reached an agreement following successful negotiations with the National Bank of Belarus," said Senior Vice President and Head of the Financial Subsidiaries Division Mikhail Yakunin. "In accordance with our business development strategy, will focus on only one Belarusian subsidiary going forward: Bank VTB (Belarus). I would also underscore that the deal was conducted in Russian and Belarusian roubles, which is in line with our policy to perform transactions in national currencies."

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