September 6, 2018 / 3:22 PM / 2 months ago

Russia's VTB asked c.bank, govt to revise Basel III requirements for banks-CEO

MOSCOW, Sept 6 (Reuters) - The CEO of Russia’s VTB bank, Andrey Kostin, said on Thursday he has asked the central bank and government to revise Basel III requirements for Russian banks.

He added VTB has spent 300 billion roubles ($4.32 billion) to meet Basel III rules with a need to spend a further 150 billion roubles in 2019.

Kostin said he expected the deal to merge VTB’s insurance business with Sogaz insurance company to close by the end of 2018, while the deal to buy rival Vozrozhdenie bank was expected to close this month. ($1 = 69.3689 roubles) (Reporting by Polina Nikolskaya, writing by Denis Pinchuk; Editing by Toby Chopra)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below