MOSCOW: Russian bank VTB still plans to exit Ukraine, the bank’s chief executive said on Thursday, after the Ukrainian central bank said it would impose new sanctions on the local subsidiaries of Russian state-owned banks.
Andrei Kostin, VTB CEO, also told reporters in Moscow that the new round of Ukraine sanctions on Russian state banks would harm all banks concerned and that VTB was in direct contact with the Ukrainian central bank. Kostin acknowledged that the sanctions, which will ban Russian banks including VTB and Sberbank from taking money out of Ukraine, could affect the valuation of Russian banks’ Ukrainian operations.
