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Banks

Russia in no hurry to transform VEB - Kremlin aide

MOSCOW, Dec 8 (Reuters) - Russia’s VEB bank will not be among the first wave of state corporations to be transformed into joint-stock companies and its partners have nothing to worry about, Kremlin’s top economic aide said on Tuesday.

The comments appeared to mark a softening of stance from Russian President Dmitry Medvedev’s pledge last month to disband inefficient state corporations and turn the rest into joint-stock companies as early as next year. [ID:nLC503874]

VEB head Vladimir Dmitriev has lashed out against Medvedev’s proposal, saying his bank should not be subject to a “hasty” privatisation and that the mere discussion of such a move was damaging its business. [ID:nGEE5B625U]

“There will be no rush... In the future, all state corporations will act in different legal format,” Kremlin’s top economic aide Arkady Dvorkovich told an event organised by VEB.

“(But) I think that VEB will be far from the first rows of the organisations in this transformation into joint-stock companies. Its partners do not need to worry.” (Writing by Toni Vorobyova; Editing by Dan Lalor)

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