May 30, 2018 / 10:17 AM / 7 months ago

Russian bank VTB says new capital requirement will cost 140 billion rubles

FILE PHOTO: A police officer stands guard near a sign with the logo of the Russian lender VTB at the Moscow International Business Centre also known as "Moskva-City" in Moscow, Russia November 21, 2017. REUTERS/Maxim Shemetov

MOSCOW (Reuters) - The head of Russian bank VTB (VTBR.MM) said on Wednesday that complying with new capital requirements set by the central bank and effective from 2019 will cost the state-owned lender 140 billion rubles ($2.24 billion).

CEO Andrei Kostin did not say whether this was an annual cost or a one-off expense.

Reporting by Tatiana Voronova; Writing by Andrey Ostroukh; Editing by David Goodman

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