VTB does not exclude purchases of regional banks in 2018

© Photo : Webstone the head office of VTB Bank in Moscow. Archive photoVTB does not exclude purchases of regional banks in 2018© Photo : VTB

VTB is in search of a «healthy» small regional banks for their purchase and does not exclude the possibility of such purchases in 2018, said the Deputy Chairman of the management Board of VTB Bank Anatoly Pechatnikov.

«The question of acquisition is, of course, one of the possible tools for the development of our business. It is true that there are areas where not as developed a market position, for example, Tyumen oblast, Volga. There, along with our activity on the natural organic growth, we do consider opportunities to acquire other smaller regional banks, which would strengthen our market position in the local banking market», — he said during a press conference.

«And this process never stopped. We are in search of, but we still buy healthy financial institutions, which are stable, have a sustainable business model and stable customer base», — said Printers.

«We have some tasks to participate in the sanctions and to buy banks that have a precarious financial situation, no. We, on the contrary, I want to buy a good developing financial institutions that they have only strengthened our position in a particular region. And we do not exclude this possibility in the next year,» he concluded.

In January, the head of VTB Andrey Kostin said that it is negotiating the purchase of two regional banks in Siberia and the Urals, without naming them. According to him, VTB has even completed their due diligence.

And at the end of October the newspaper Kommersant reported that VTB within the next two months may announce the acquisition of control in the largest regional Bank of the Tyumen region — the Bank, the negotiations which lasted about two years.