State-controlled VTB, Russia`s No. 2 bank, is more likely to sell its business in Ukraine than continue working there, because it sees no growth prospects in the country, RIA news agency quoted VTB`s CEO as saying on Tuesday, according to Reuters.
”As for Ukraine, we are suffering substantial losses there. We do not see big opportunities there,” RIA quoted Andrei Kostin as telling analysts in London, Reuters reports.
”I believe that if we had such an opportunity, we would even sell this business rather than grow or preserve it, because we see no prospects there.”
As UNIAN reported earlier, Ukraine`s banking system posted almost UAH 77.935 billion in loss under the International Financial Reporting Standards (IFRS) last year with the losses of solvent Ukrainian banks alone being estimated at UAH 71.891 billion, according to the National Bank of Ukraine (NBU).
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