The attempts of the Russian VTB Bank to sell the Ukrainian “subsidiary” were not successful, several sources, close to the group, told.
“Starting from May, when VTB Chairman Andrei Kostin announced his plan to sell Ukrainian VTB, the group firmly tackled this issue. Two candidates – SKM Group and TAScombank – showed their interest in purchasing the assets”, one of interlocutors of the newspaper noted.
One more source of the edition confirmed the fact of negotiations. He also noted that they were not successful. “The appraisals of potential purchasers and the seller significantly differed enough to fail to come to an agreement”, the source clarified.
The source also told that the inability to sell the Ukrainian VTB made the group search for other ways of withdrawing from Ukraine.
“Currently VTB is searching for purchasers of a credit portfolio of its Ukrainian subsidiary structure, in order not to exit market empty-handed”, one of them told. The VTB press-office did not comment the plans for sale of the credit portfolio of the Ukrainian bank, noting that the bank “considers different scenarios of business development” in the country.
As it was reported, in mid-May VTB bank informed that the group does not see any prospects in developing business in Ukraine due to large losses, which the subsidiary organization incurs, and is ready to sell it. However, in mid-June VTB claimed about the suspension of plans to sell Ukrainian assets.
It should be reminded that the Ukrainian “subsidiary” of OJSC “VTB Bank” has been operating on Ukraine’s market since 1992 and belongs to the group of the largest banks. Since 2006 more than 99.9% of bank shares are owned by Russia’s Vneshtorgbank.
As per results of the first quarter of 2016, VTB Bank incurred losses, amounting to UAH 4.594 bln, 1.9 times less than losses for the same period of the previous year. Previously the bank reported that as per results of 2015 it incurred losses, amounting to UAH 4.552 bln, 3.7 times less than losses for the previous year.
Source: news.finance.ua.
