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Russia's VTB says no plans to provide liquidity, capital to Corpbank
June 24, 2014 / 6:56 AM / in 3 years

Russia's VTB says no plans to provide liquidity, capital to Corpbank

MOSCOW, June 24 (Reuters) - Russian bank VTB’s investment unit VTB Capital said it does not have any plans to provide liquidity or capital resources to Bulgaria’s Corporate Commercial Bank (Corpbank), which was taken over by the country’s central bank on Friday after a run on the bank.

VTB Capital owns around 9.1 percent of Corpbank’s shares and bought the shares as part of a structured finance transaction, it said in a statement. Its exposure to Corpbank did not exceed 10 million euros from the outset, the bank said, adding that the amount was subsequently fully hedged.

“VTB Group does not have any liquidity commitments and does not have any plans to provide any liquidity or capital resources to (Corpbank),” it said in the statement.

Reporting by Megan Davies, editing by Jason Bush

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