VTB confirms that today the bank has been provided with RUB 100 billion from the Russian National Wealth Fund to be placed in a subordinated deposit.
The purpose of the deposit is to fund sustainable infrastructure projects on the list approved by the Russian Government.
As a result, the bank’s capital adequacy ratio under Russian Accounting Standards will exceed 12%.
The RUB 100 billion received today by VTB is the first instalment of RUB 250 billion that the Government plans to provide to increase VTB’s capital and for loans to businesses.
The second instalment of RUB 150 billion is expected to be provided by the end of Q1 2015.