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Russia's VTB stops issuing new loans in Ukraine
February 26, 2014 / 3:50 PM / 4 years ago

Russia's VTB stops issuing new loans in Ukraine

MOSCOW, Feb 26 (Reuters) - Russia’s second-largest bank VTB has stopped issuing new loans in Ukraine, Chief Executive Officer Andrei Kostin said on Wednesday.

VTB has said previously it has exposure to Ukraine of 20 billion roubles ($560 million), which Kostin said is largely through big private companies, some of which are exporters. [ID nL5N0JK2QY]

Kostin said the bank has made a decision to “not to provide” new loans.

VTB’s operations in Ukraine amount to about 2-3 percent of the bank’s total operations, Kostin said. The bank keeps a long term strategy in Ukraine, Kostin told reporters.

“We hope the situation will stabilise soon,” he added.

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