November 28, 2018 / 8:21 AM / 19 days ago

Russia's VTB gives in to central bank call to boost capital

MOSCOW, Nov 28 (Reuters) - The CEO of Russia’s VTB , Andrey Kostin, said on Wednesday that his bank “lost a battle” with the central bank over Basel III requirements for banks’ capital and was now building up its capital.

Russia’s second-largest lender had asked the central bank to relax the Basel III rules, saying it will have to amass substantial funds to meet the requirements. (Reporting by Katya Golubkova Writing by Andrey Ostroukh)

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