Key Developments: VTB Bank OAO (VTBRq.L)

VTBRq.L on London Stock Exchange

28 Jan 2015
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Latest Key Developments (Source: Significant Developments)

S&P puts VTB Bank OAO on watch with negative implications-Interfax
Tuesday, 30 Dec 2014 01:57am EST 

VTB Bank OAO:Standard & Poor's Ratings Services has placed on CreditWatch with negative implications its BBB-/A-3 long- and short-term ratings on Russia's VTB-Interfax.The agency also placed the ruAAA Russia national scale ratings and the senior unsecured and subordinated debt ratings on CreditWatch with negative implications.  Full Article

VTB Bank OAO expects smaller profits for FY 2014 comparable to 9-month-Interfax
Thursday, 20 Nov 2014 07:14am EST 

VTB Bank OAO:VTB group is expecting to have smaller profits for 2014 similar to the amount it posted for January-September 2014 - Interfax cites VTB Deputy CEO Herbert Moos.Moss added that growth in the group's portfolio for the year would remain at the levels seen in the first nine months of Fy 2014, that is, "slightly above 20%".The bank expects to be able to keep interest margin at around 4%, Moos said.  Full Article

VTB Bank OAO files claim against Rusenergo Fund Limited-Interfax
Wednesday, 29 Oct 2014 06:08am EDT 

VTB Bank OAO:VTB Bank has filed a claim to the Arbitration Court of Moscow against Rusenergo Fund Limited for 64.3 billion Russian rubles-Interfax.The details of the claim have not been disclosed.  Full Article

VTB Bank OAO plans voluntary liquidation of subsidiary
Tuesday, 28 Oct 2014 11:46am EDT 

VTB Bank OAO:Plans voluntary liquidation of its subsidiary Peterburg City OOO.The decision will be made in due order.  Full Article

VTB Bank OAO challenges sanctions in EU Court of Justice
Friday, 24 Oct 2014 10:29am EDT 

VTB Bank OAO:Files lawsuit with the Court of Justice of the European Union to challenge the EU Council's decision to impose sanctions on VTB, to the detriment of both the Bank and its clients.  Full Article

Moody's takes action on VTB Bank OAO ratings
Monday, 20 Oct 2014 02:10pm EDT 

VTB Bank OAO:Moody's Investors Service has taken rating actions on seven Russian financial institutions, including VTB Bank OAO (VTB).These actions follow the weakening of Russia's credit profile, as reflected by Moody's downgrade of Russia's government debt rating to Baa2 from Baa1 on Oct. 17.Specifically, Moody's downgraded the supported senior unsecured, subordinated debt and deposit and issuer ratings of the government-owned Russian financial institutions.The outlook on the long-term ratings of these institutions is negative.VTB's LC/FC senior unsecured debt ratings and deposit ratings were downgraded to Baa3; senior unsecured MTN to (P)Baa3, LC senior unsecured bank credit facility to Baa3, FC subordinated rating to Ba2; subordinated MTN to (P)Ba2, backed senior unsecured to Baa3, backed senior unsecured MTN to (P)Baa3.VTB's LC/FC short-term deposit and short-term program ratings were downgraded to Prime-3 and (P)Prime-3 respectively.  Full Article

VTB Bank OAO, Export-Import Bank of China sign cooperation agreement
Sunday, 12 Oct 2014 08:00pm EDT 

VTB Bank OAO:Says that VTB and Export-Import Bank of China signed a cooperation agreement during the 19th regular Heads of Government meeting between Russia and China.Under the agreement, the parties plan to work together to support business ties between Russian and Chinese companies.Among other terms, VTB will be granted a credit line for the equivalent of up to $2 billion in Chinese yuan or Russian rubles to finance imports of a wide range of products from China, from foodstuffs to hi-tech equipment.  Full Article

United Rocket & Space Corporation signs cooperation agreement with VTB Bank OAO-Interfax
Thursday, 2 Oct 2014 03:31am EDT 

VTB Bank OAO:The CEO of Russia's United Rocket & Space Corporation (URSC), Igor Komarov and the president and CEO of state bank VTB, Andrei Kostin signed a cooperation agreement on Oct. 2 at VTB Capital's annual Russia Calling! investment forum-Interfax.The agreement provides for the possibility of comprehensive bank servicing of the corporation and its businesses, including VTB's participation in the realization of the investment potential of companies that are managed by URSC.The bank will also provide consulting and information services to the corporation in the banking, investment and finance fields and in the implementation of the corporation's international projects.  Full Article

VTB Bank OAO completes placement of preference shares
Tuesday, 30 Sep 2014 02:32am EDT 

VTB Bank OAO:Completed placement of preference shares for total amount of about 214 Russian ruble bln.Russian Federation ministry of finance acquired shares at par value of one kopeck.Share issue was included in VTB Bank's core Tier 1 capital under Basel III.  Full Article

VTB Bank OAO files 3 billion ruble lawsuit against Mechel OAO-Interfax
Friday, 26 Sep 2014 12:06am EDT 

VTB Bank OAO:Russian bank VTB filed a 2.99 billion Russian ruble lawsuit with the Moscow Arbitration Court against Russian mining and steel company Mechel OAO on Sep. 25, according to files relating to the case-Interfax."The loan is not being serviced, so VTB filed suit against Mechel for the return of overdue debt," VTB CEO Andrei Kostin told Russian newspaper Izvestia.There is currently no information on the court's database on lawsuits filed by Sberbank or Gazprombank.Mechel's main creditors had previously not turned to the courts with suits against the company.  Full Article

Russia prepares new support for banks that could be worth $17 billion

MOSCOW - Russian banks could get a capital boost of up to 1 trillion rubles ($17 billion) under a new law being prepared by the government to support a sector suffering from Western sanctions and an economic slowdown.

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