Russia's VTB to issue shares in 2013 if markets allow-CFO

MOSCOW Thu Dec 20, 2012 4:26am EST

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MOSCOW Dec 20 (Reuters) - VTB, Russia's No.2 lender, is considering an additional share issue next year if market conditions are favourable, Chief Financial Officer Herbert Moos said on Thursday.

He added that the government, which controls a 75.5 percent stake in VTB, would not take part in the share offering, whose proceeds would go towards bolstering the bank's capital and enable it to expand lending.

The state sold a 10 percent stake in VTB last year for $3.3 billion and plans to cut its stake by another 10 percent. VTB CEO Andrei Kostin has said that the offering could raise at least $2 billion.