VTB withdraws from SPB Exchange shareholders

VTB Bank has ceased to be a shareholder of the SPB Exchange, follows from the data of the Corporate Information Disclosure Center.

It is specified that before that VTB owned a share of 9.2%, and eventually reduced it to zero.

The center's website also states that the bank terminated its participation in the SPB Exchange "as a result of a transaction" that was completed on May 20.

In April 2021, VTB bought 5% of the St. Petersburg Exchange. According to Kommersant, the exchange was valued at 10 billion rubles. Based on this estimate, the cost of 5% of the shares could be about 500 million rubles. However, by the end of May, VTB increased this share to 10.8%.

Nabiullina explained the decision to merge Otkritie Bank and VTB Finance

At the end of February this year, VTB was included in the US sanctions list SDN (Specially Designated Nationals and Blocked Persons), which means the most severe restrictions, including the actual isolation from the dollar system. Sanctions against VTB were also imposed by the European Union and the UK. The bank was disconnected from the SWIFT system. On April 8, the European Union extended sanctions against the bank. His assets in the EU were frozen, and a complete ban on operations also came into force.

Later, Kommersant learned that the head of the bank, Andrey Kostin, proposed merging VTB, Otkritie Bank, and the Crimean RNCB. The newspaper's interlocutors argued that the merger would allow banks to "significantly save on branches" and "bring a major federal player to Crimea." The Bank of Russia supported the consolidation of banks.

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