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Russia's VEB unlikely to sell Globex and Svyaz-Bank in 2017 -RIA
September 25, 2017 / 6:41 AM / in a month

Russia's VEB unlikely to sell Globex and Svyaz-Bank in 2017 -RIA

MOSCOW, Sept 25 (Reuters) - Russian state development bank VEB is unlikely to sell its subsidiaries Globex bank and Svyaz-Bank in 2017 due to a challenging situation in the banking sector, RIA news agency cited VEB’s first deputy chairman as saying on Monday.

VEB, which is under Western sanctions over the Ukraine conflict, said in January it planned to partly or fully sell Svyaz-Bank and Globex Bank in the third or fourth quarter.

“Probably not, we don’t see (an opportunity),” Nikolai Tsekhomsky, the bank’s first deputy chairman, said when asked if that was still the plan, according to RIA. (Reporting by Maria Kiselyova; Writing by Maria Tsvetkova; Editing by Maria Kiselyova)

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