June 7, 2018 / 9:38 AM / 2 months ago

CEO of Russia's VTB says could buy Vozrozhdenie bank in Q3

ST PETERSBURG, Russia, June 7 (Reuters) - Andrei Kostin, the CEO of Russia’s second largest bank VTB, said on Thursday he told the central bank that VTB is interested in buying smaller lender Vozrozhdenie bank.

Kostin told journalists in St Petersburg the deal could be completed in the third quarter, but declined to reveal the price VTB is ready to pay for Vozrozhdenie.

VTB could also consider buying one or two regional banks to expand the group’s business, Kostin said. (Reporting by Andrey Ostroukh; writing by Tom Balmforth; editing by Maria Kiselyova)

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