Russian bank VTB is preparing to wind down its European operations after being hit hard by Western sanctions, the Financial Times reported on Sunday.
FILE PHOTO: The logo of VTB Group is seen through a window of Imperia Tower on the facade of the Federatsiya Tower at the Moscow International Business Center also known as "Moskva-City", in Moscow, Russia, in this August 5, 2015. REUTERS/Maxim Zmeyev/File Photois preparing to wind down its European operations after being hit hard by Western sanctions, the Financial Times reported on Sunday.
VTB has an investment banking operation in London and a retail bank in Germany with 160,000 customers but has decided it is unable to operate outside Russia after its assets were frozen by Western allies, the FT said, citing people with knowledge of internal discussions. Reuters had reported on Wednesday that regulators are preparing for a possible closure of the European arm of VTB, Russia's second-largest bank, amid growing concerns about the impact of Western sanctions on the bank after Russia's invasion of Ukraine.Reporting by Juby Babu in Bengaluru Editing by Jane Merriman and David GoodmanSign up to our investor newsletter to get the latest news and trends in global financial markets.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Russia says it will block access to Facebook for restricting Russian mediaRussia’s media regulator said it was cutting off access in response to Facebook’s decision this week to block Russian media outlets for people within the European Union.
Weiterlesen »
Column: All should boycott events in Russia or involve Russian athletesFIFA and IOC need to get on board
Weiterlesen »
Shell continues to buy Russian oil after vowing to stop Russia investments'Yesterday we made the difficult decision to purchase a cargo of Russian crude oil,' Shell tweeted.
Weiterlesen »
Russian-Ukraine war: Ukraine tries to evacuate city under weeklong Russia attackA similar ceasefire collapsed Saturday, trapping women, children and older under more shelling and aerial bombardment by Russian forces.
Weiterlesen »
Russian-Ukraine war: Ukraine tries to evacuate city under weeklong Russia attackA similar ceasefire collapsed Saturday, trapping women, children and older under more shelling and aerial bombardment by Russian forces.
Weiterlesen »
Russian-Ukraine war: Ukraine tries to evacuate city under weeklong Russia attackA similar ceasefire collapsed Saturday, trapping women, children and older under more shelling and aerial bombardment by Russian forces.
Weiterlesen »