October 23, 2019 / 12:12 PM / 2 months ago

Russia's VTB may need to boost capital next year

MOSCOW, Oct 23 (Reuters) - VTB, Russia’s second biggest bank, may need to boost its capital next year and is looking at different options including a subordinated bond issue, Chief Executive Andrei Kostin told reporters on Wednesday.

Kostin also said he believed it was realistic to expect the central bank to cut its key interest rate to 6% by the end of this year. VTB’s corporate loan book growth was seen in the single digits next year, Kostin also said.

Reporting by Darya Korsunskaya; editing by David Evans Writing by Katya Golubkova

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