VTB Group is currently taking a set of preliminary measures to fulfil its obligations on Bank of Moscow financial support, set by General Agreement between Deposit Insurance Agency, VTB Bank, VTB Debt Centre and VTB Pension Administrator. These measures include, in particular, all corporate procedures such as approval of large transactions, interested party transactions, etc., allowing VTB Debt Centre and VTB Pension Administrator to acquire Bank of Moscow shares, and to increase Bank of Moscow charter capital.
Bank of Moscow financial support procedure remains unchanged. VTB Group management expects VTB Group to acquire more than 75% of Bank of Moscow shares before providing additional capital to the lender. For organisational and technical reasons corporate approvals are requested for the two stages of Bank of Moscow financial support simultaneously.