February 9, 2018 / 1:29 PM / 5 months ago

Russia's VTB bank not considering buying Vozrozhdenie bank - VTB CEO

MOSCOW, Feb 9 (Reuters) - The head of Russian state bank VTB Andrey Kostin said on Friday VTB are not considering buying Russia’s Vozrozhdenie bank.

“There is not even time to do due diligence. That’s why there is no interest at all,” he said.

The Vozrozhdenie bank’s majority owners, brothers Dmitry and Alexei Ananyev, are required by the Russian central bank to reduce their stake to 10 percent, under the terms of a bailout for another lender the brothers controlled. (Reporting by Denis Pinchuk; Writing by Polina Nikolskaya; Editing by Polina Ivanova)

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