Russia’s second largest bank by assets, VTB, has announced plans
to expand its business in the Ukraine and grow its regional market
share.
The bank said that growing its business and network in the
Ukraine was a key priority in the bank’s business strategy.
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The bank added that it is targeting a growth in market share
both in the retail and investment banking sector in the Ukraine and
wants to achieve a “significant growth” within the next two years,
the head of VTB’s Ukraine operations, Andrei Kostin, told regional
media.
The announcement follows VTB’s acquisition of a minority stake
in Russia-based TransCredit Bank, as well as its plans to gain
greater control of Bank of Moscow within the first half of fiscal
2011.
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