MOSCOW Jan 17 VTB Capital, the investment unit
of Russia's No.2 lender VTB, said on Thursday it has
issued dollar-denominated participatory notes for investors in
the Saudi Arabian equity market, signaling the bank's expansion
strategy in the region.
The notes allow international investors more direct access
to the Saudi shares by bypassing sponsoring banks, VTB Capital
said in a statement.
"The business development in the MENA region is a strategic
part of VTB Capital's international expansion," Alexei
Yakovitsky said in a statement.
(Reporting by Lidia Kelly; Editing by Elaine Hardcastle)