​Russian government provided 2,7 bln USD to Bank VTB

Baku. 30 December. REPORT.AZ/ Bank VTB has been provided with 100 billion rubles (more than 2,666 billion USD) from the Russian National Wealth Fund to be placed in a subordinated deposit.

Report informs referring the information given by the central office of the Bank, the purpose of the deposit is to fund sustainable infrastructure projects on the list approved by the Russian Government.

As a result, the bank’s capital adequacy ratio under Russian Accounting Standards will exceed 12%.

100 billion rubles received today by VTB, is the first installment of RUB 250 billion that the Government plans to provide to increase VTB’s capital and for loans to businesses. The second installment of RUB 150 billion is expected to be provided by the end of the first quarter of 2015.