VTB was unable to reach an agreement with Akhmetov and Tigipko on the sale of its Ukrainian subsidiary – media
VTB’s attempts to get rid of its business in Ukraine through sale were unsuccessful, writes Kommersant.
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Sources close to VTB told the publication that negotiations were held with the SCM group controlled by Rinat Akhmetov and the Taskombank group, owned by Sergei Tigipko.
“The assessments of potential buyers and the seller were so divergent that it was not possible to reach an agreement,” the source said, adding that VTB is now looking for other ways to leave Ukraine, in particular, buyers for the loan portfolio of its Ukrainian subsidiary, so as not to leave the market with empty hands.
The publication states that the loan portfolio of Ukrainian VTB as of July 1 amounted to 13,3 billion hryvnia, or about 34 billion rubles.
“It’s not easy to find buyers for such a volume of loans in Ukraine now,” said Alor Investment Company analyst Kirill Yakovenko. “The real quality of the portfolio is known only to VTB itself. In addition, potential buyers may be deterred by the risks of deterioration in loan servicing after the sale, which are quite high in this case.”
At the same time, the newspaper, citing the opinion of Moody's analyst Elena Redko, writes that recently “interest in Ukrainian banks is extremely low, not only because of the quality of their assets, but also because the prospects for the return on these investments are unclear.” .
English version :: Read in English VTB failed to reach an agreement with Akhmetov and Tigipko on the sale of its Ukrainian subsidiary – media