Key Developments: VTB Bank OAO (VTBRq.L)

VTBRq.L on London Stock Exchange

27 Mar 2015
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Latest Key Developments (Source: Significant Developments)

VTB Bank OAO becomes shareholder in Otkritie Holding
Thursday, 26 Feb 2015 07:00pm EST 

VTB Bank OAO:VTB Group has become a shareholder in Otkritie Holding with a stake of 9.99 percent.The shares were originally pledged as additional collateral under a loan agreement with VTB by Boris Mints and Vadim Belyaev, and were transferred to VTB following the expiration of the loan repayment period in 2014.In 2008 VTB Bank issued a loan to Rusenergo Fund Limited, a subsidiary of Otkritie Holding, to establish a fund for investing in shares of Russian energy companies.Otkritie sold Rusenergo Fund in 2009.After Boris Mints sold his shares in Otkritie Holding in 2013, his obligations under the loan were assumed by another shareholder, ICT Group.Ownership structure of company: Vadim Belyaev (27.14 pct), IFD Kapital (19.90 pct), VTB Bank (9.99 pct), Ruben Aganbegyan (7.96 pct), NPF Lukoil-Garant (7.06 pct), Alexander Mamut (6.67 pct), Sergey Gordeev (6.38 pct), ICT Holding (4.91 pct), other minority shareholders (9.99 pct).  Full Article

Moody's downgrades VTB Bank OAO ratings
Tuesday, 24 Feb 2015 08:36am EST 

VTB Bank OAO:Moody's Investors Service (Moody's) has taken rating actions on the seven Russian financial institutions, including VTB Bank OAO.These actions follow the weakening of Russia's credit profile, as reflected by Moody's downgrade of Russia's government debt rating to Ba1 from Baa3 on Feb. 20.VTB Bank's standalone bank financial strength rating (BSFR) was downgraded to E+ from D- (now equivalent to a BCA of b1), outlook was revised to stable.Long-term LC Deposit rating was downgraded to Ba1 from Baa3, outlook was revised to negative.Long-term FC Deposit rating was downgraded to Ba2 from Ba1, outlook was revised to negative.Short-term LC Deposit rating was downgraded to NP from P-3.  Full Article

VTB Bank OAO files claim to recover 50.2 billion roubles from Mechel OAO-Reuters
Monday, 2 Feb 2015 04:27am EST 

VTB Bank OAO:VTB Bank has filed a claim to the arbitration court of Moscow seeking to recover 50.2 billion Russian roubles (about $752 million) from Mechel OAO-Reuters.Mechel shares fell almost 10 pct at Moscow Exchange by 15.26 Moscow time.Last week, VTB Bank filed for bankruptcy of Mechel's Singapore trading company, Mechel Carbon (Singapore).  Full Article

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

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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